Key Points
- COO Julie Rubinstein sold 11,881 shares for about $315,203 at an average price of $26.53, reducing her stake by 3.05% to 377,802 shares. The transaction was made under a pre-arranged Rule 10b5-1 trading plan.
- Rubinstein had also sold the same number of shares in several recent transactions, reflecting a series of regular sales over recent weeks.
- Adaptive reported quarterly EPS of $0.02, beating the $0.10-per-share loss analysts expected, and revenue of $83.9 million versus a $71.57 million estimate; revenue was down 10.7% year over year. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $30.06.
Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) COO Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $26.53, for a total value of $315,202.93. Following the sale, the chief operating officer owned 377,802 shares of the company's stock, valued at approximately $10,023,087.06. This trade represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 stock was sold at an average price of $26.73, for a total transaction of $317,579.13.
- On Monday, November 2nd, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $25.47, for a total transaction of $302,609.07.
- On Wednesday, October 28th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $28.45, for a total transaction of $338,014.45.
- On Monday, October 26th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were 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 transaction 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 transaction of $301,896.21.
- On Thursday, October 15th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was 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 shares were sold at an average price of $25.66, for a total transaction of $304,866.46.
Adaptive Biotechnologies Stock Performance
Shares of Adaptive Biotechnologies stock opened at $27.98 on Friday. The firm has a market capitalization of $4.47 billion, a P/E ratio of -62.18 and a beta of 2.18. The company has a quick ratio of 4.68, a current ratio of 4.79 and a debt-to-equity ratio of 2.22. The company has a 50 day moving average price of $26.42 and a 200 day moving average price of $19.86. Adaptive Biotechnologies Corporation has a 52 week low of $12.00 and a 52 week high of $30.74.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last released its earnings results on Wednesday, November 4th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.12. Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. The company had revenue of $83.90 million for the quarter, compared to the consensus estimate of $71.57 million. During the same quarter in the previous year, the firm earned $0.06 EPS. Adaptive Biotechnologies's revenue was down 10.7% compared to the same quarter last year. Sell-side analysts expect that Adaptive Biotechnologies Corporation will post -0.40 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the stock. BTIG Research raised their target price on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, September 22nd. National Bank Financial set a $34.00 price target on Adaptive Biotechnologies in a research report on Tuesday, September 22nd. TD Cowen lifted their price objective on Adaptive Biotechnologies from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, October 13th. Guggenheim boosted their price objective on Adaptive Biotechnologies from $25.00 to $32.00 and gave the company a "buy" rating in a report on Thursday, October 1st. Finally, Piper Sandler upped their target price on Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Adaptive Biotechnologies presently has a consensus rating of "Moderate Buy" and an average price target of $30.06.
Read Our Latest Research Report on Adaptive Biotechnologies
Institutional Trading of Adaptive Biotechnologies
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADPT. Russell Investments Group Ltd. raised its position in shares of Adaptive Biotechnologies by 14.0% in the third quarter. Russell Investments Group Ltd. now owns 89,721 shares of the company's stock worth $2,593,000 after acquiring an additional 10,999 shares during the period. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Adaptive Biotechnologies during the 3rd quarter valued at about $252,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Adaptive Biotechnologies in the 3rd quarter valued at about $277,000. Ethic Inc. acquired a new position in Adaptive Biotechnologies in the 3rd quarter worth about $244,000. Finally, Pictet Asset Management Holding SA raised its holdings in Adaptive Biotechnologies by 12.5% in the 3rd quarter. Pictet Asset Management Holding SA now owns 17,924 shares of the company's stock worth $518,000 after purchasing an additional 1,985 shares during the period. Institutional investors and hedge funds own 99.17% of the company's stock.
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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