Key Points
- Adaptive Biotechnologies COO Julie Rubinstein sold 11,881 shares for about $357,856 at an average price of $30.12, reducing her stake by 3.05%; the sale was made under a pre-arranged Rule 10b5-1 plan.
- The company reported quarterly EPS of $0.02, beating analyst expectations of a $0.10 loss, and revenue of $83.9 million versus $71.6 million expected. However, revenue fell 10.7% year over year.
- Analysts’ consensus rating was Moderate Buy, with an average price target of $30.31; eight analysts cited in the article included six Buy, one Hold, and one Sell rating.
Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) COO Julie Rubinstein sold 11,881 shares of the company's stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $30.12, for a total value of $357,855.72. Following the completion of the transaction, the chief operating officer owned 377,802 shares in the company, valued at $11,379,396.24. This represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 Thursday, November 5th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $26.53, for a total value of $315,202.93.
- 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 value of $317,579.13.
- On Monday, November 2nd, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $25.47, for a total value 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 value 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 shares were 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 stock was 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 stock was 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 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.
Adaptive Biotechnologies Stock Down 3.0%
Shares of ADPT opened at $29.36 on Wednesday. The firm has a market cap of $4.75 billion, a P/E ratio of -65.24 and a beta of 2.18. Adaptive Biotechnologies Corporation has a 12-month low of $12.00 and a 12-month high of $30.81. The company's 50-day moving average price is $26.61 and its 200 day moving average price is $19.97. The company has a current ratio of 3.97, a quick ratio of 3.87 and a debt-to-equity ratio of 1.82.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported $0.02 EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.12. The company had revenue of $83.90 million for the quarter, compared to analysts' expectations of $71.57 million. Adaptive Biotechnologies had a negative net margin of 23.67% and a negative return on equity of 23.95%. Adaptive Biotechnologies's revenue for the quarter was down 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.06 earnings per share. On average, sell-side analysts forecast that Adaptive Biotechnologies Corporation will post -0.34 earnings per share for the current year.
Hedge Funds Weigh In On Adaptive Biotechnologies
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP purchased a new stake in Adaptive Biotechnologies during the second quarter worth about $12,361,000. Handelsbanken Fonder AB purchased a new position in shares of Adaptive Biotechnologies in the second quarter valued at approximately $1,416,000. Renaissance Technologies LLC purchased a new position in shares of Adaptive Biotechnologies in the first quarter valued at approximately $3,328,000. Wellington Management Group LLP grew 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 in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Adaptive Biotechnologies during the 2nd quarter worth approximately $9,207,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
ADPT has been the topic of several recent analyst reports. Morgan Stanley upped their price objective on shares of Adaptive Biotechnologies from $22.00 to $27.00 and gave the stock an "equal weight" rating in a report on Monday, October 12th. TD Cowen lifted 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. BTIG Research lifted their target price on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the company a "buy" rating in a report on Tuesday, September 22nd. The Goldman Sachs Group initiated coverage on Adaptive Biotechnologies in a research report on Tuesday, September 29th. They issued a "buy" rating and a $35.00 target price on the stock. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research note on Thursday, October 15th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $30.31.
Check Out Our Latest Research Report on Adaptive Biotechnologies
About Adaptive Biotechnologies
(
Get Free Report)
Adaptive Biotechnologies is a biotechnology company focused on using the human immune system to diagnose and treat disease. Based in Seattle, Washington, the company develops technologies that sequence and analyze immune cells and their receptors, generating data for clinical testing, research and drug development. Its products include immunoSEQ, a platform used by researchers and biopharmaceutical companies to study immune responses, and clonoSEQ, a clinical test that detects and monitors minimal residual disease in certain blood cancers.
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