Key Points
- Adaptive Biotechnologies COO Julie Rubinstein sold 11,881 shares for about $302,609 at an average of $25.47, under a pre-arranged Rule 10b5-1 trading plan. She retained 377,802 shares after the sale, a 3.05% reduction in her direct holdings.
- The article reports a series of similar 11,881-share sales by Rubinstein in October, in addition to the November transaction.
- Analysts’ consensus rating was “Moderate Buy”, with an average price target of $30.06; six analysts rated the stock Buy, one Hold and one Sell.
Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) COO Julie Rubinstein sold 11,881 shares of the business's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $25.47, for a total transaction of $302,609.07. Following the completion of the sale, the chief operating officer directly owned 377,802 shares of the company's stock, valued at approximately $9,622,616.94. This trade represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Julie Rubinstein also recently made the following trade(s):
- On Friday, October 30th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $26.73, for a total transaction of $317,579.13.
- On Wednesday, October 28th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $28.45, for a total value of $338,014.45.
- On Monday, October 26th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $26.04, for a total value of $309,381.24.
- On Friday, October 23rd, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $24.98, for a total value of $296,787.38.
- On Monday, October 19th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $24.05, for a total value of $285,738.05.
- On Wednesday, October 21st, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $25.41, for a total value of $301,896.21.
- On Thursday, October 15th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $25.61, for a total value of $304,272.41.
- On Tuesday, October 13th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $25.50, for a total value of $302,965.50.
- On Thursday, October 8th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $25.66, for a total value of $304,866.46.
- On Monday, October 5th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $29.19, for a total value of $346,806.39.
Adaptive Biotechnologies Price Performance
Shares of NASDAQ ADPT opened at $25.80 on Wednesday. The company has a current ratio of 4.79, a quick ratio of 4.68 and a debt-to-equity ratio of 2.22. Adaptive Biotechnologies Corporation has a twelve month low of $12.00 and a twelve month high of $30.74. The stock has a 50 day moving average of $26.37 and a two-hundred day moving average of $19.71. The stock has a market cap of $4.12 billion, a P/E ratio of -62.93 and a beta of 2.18.
Institutional Trading of Adaptive Biotechnologies
A number of hedge funds have recently added to or reduced their stakes in ADPT. BlackRock Inc. purchased a new position in shares of Adaptive Biotechnologies in the 2nd quarter valued at approximately $324,735,000. Wellington Management Group LLP increased its holdings in shares of Adaptive Biotechnologies by 53.2% in the second quarter. Wellington Management Group LLP now owns 5,911,366 shares of the company's stock valued at $126,799,000 after purchasing an additional 2,053,944 shares during the period. Bank of America Corp DE acquired a new position in shares of Adaptive Biotechnologies in the second quarter valued at approximately $37,109,000. Principal Financial Group Inc. raised its stake in shares of Adaptive Biotechnologies by 9.8% during the first quarter. Principal Financial Group Inc. now owns 1,704,887 shares of the company's stock worth $23,664,000 after purchasing an additional 152,378 shares during the last quarter. Finally, Freestone Grove Partners LP purchased a new stake in shares of Adaptive Biotechnologies during the second quarter worth approximately $18,912,000. 99.17% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts recently commented on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research report on Thursday, October 15th. BTIG Research raised their price objective on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, September 22nd. Guggenheim raised their price objective on shares of Adaptive Biotechnologies from $25.00 to $32.00 and gave the stock a "buy" rating in a research report on Thursday, October 1st. The Goldman Sachs Group started coverage on shares of Adaptive Biotechnologies in a research note on Tuesday, September 29th. They issued a "buy" rating and a $35.00 price objective on the stock. Finally, TD Cowen upped their target price on shares of Adaptive Biotechnologies from $28.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, October 13th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.06.
Read Our Latest Report on Adaptive Biotechnologies
Adaptive Biotechnologies Company Profile
(
Get Free Report)
Adaptive Biotechnologies Corporation (NASDAQ: ADPT) is a biotechnology company focused on using the genetics of the adaptive immune system to develop diagnostic and research tools. Based in Seattle, Washington, the company analyzes immune-cell receptors to help identify and measure disease, support drug development and improve understanding of immune responses.
Adaptive's products include clonoSEQ, a clinical assay used to detect and monitor measurable residual disease in certain blood cancers, including multiple myeloma, acute lymphoblastic leukemia and chronic lymphocytic leukemia.
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