Key Points
- COO Julie Rubinstein sold 11,466 Adaptive Biotechnologies shares for $331,711 at an average price of $28.93, reducing her position by 2.95% to 377,802 shares. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Rubinstein also made several recent stock sales, including repeated sales of 11,881 shares in October and November.
- Adaptive reported quarterly revenue of $83.9 million, above analyst expectations, and EPS of $0.02 versus a consensus loss estimate of $0.10; revenue nevertheless fell 10.7% year over year. Analysts’ consensus rating was “Moderate Buy,” with a $30.31 target price.
Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) COO Julie Rubinstein sold 11,466 shares of the company's stock in a transaction on Friday, November 13th. The shares were sold at an average price of $28.93, for a total value of $331,711.38. Following the sale, the chief operating officer owned 377,802 shares of the company's stock, valued at approximately $10,929,811.86. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 Thursday, November 12th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $29.40, for a total value of $349,301.40.
- On Monday, November 9th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The stock was sold at an average price of $30.12, for a total value of $357,855.72.
- On Thursday, November 5th, Julie Rubinstein sold 11,881 shares of Adaptive Biotechnologies stock. The shares were sold at an average price of $26.53, for a total transaction 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 transaction 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 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 transaction 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 transaction 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 transaction 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 transaction of $301,896.21.
Adaptive Biotechnologies Stock Performance
Shares of Adaptive Biotechnologies stock traded down $0.44 on Friday, hitting $29.04. 2,063,725 shares of the company's stock were exchanged, compared to its average volume of 2,197,728. Adaptive Biotechnologies Corporation has a 1 year low of $12.00 and a 1 year high of $32.21. The company has a 50-day simple moving average of $26.91 and a 200-day simple moving average of $20.13. The company has a debt-to-equity ratio of 1.82, a quick ratio of 3.87 and a current ratio of 3.97. The stock has a market capitalization of $4.70 billion, a PE ratio of -64.53 and a beta of 2.18.
Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.12. Adaptive Biotechnologies had a negative return on equity of 23.95% and a negative net margin of 23.67%. The firm had revenue of $83.90 million during the quarter, compared to analyst estimates of $71.57 million. During the same period in the prior year, the business posted $0.06 EPS. Adaptive Biotechnologies's revenue was down 10.7% on a year-over-year basis. As a group, equities analysts anticipate that Adaptive Biotechnologies Corporation will post -0.24 EPS for the current year.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Arizona State Retirement System increased its position in shares of Adaptive Biotechnologies by 1.3% during the second quarter. Arizona State Retirement System now owns 31,866 shares of the company's stock worth $684,000 after acquiring an additional 416 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Adaptive Biotechnologies by 6.8% in the first quarter. PNC Financial Services Group Inc. now owns 14,737 shares of the company's stock valued at $205,000 after purchasing an additional 941 shares during the period. Gibbs Wealth Management boosted its holdings in shares of Adaptive Biotechnologies by 4.6% in the third quarter. Gibbs Wealth Management now owns 26,900 shares of the company's stock valued at $777,000 after purchasing an additional 1,191 shares during the period. Assetmark Inc. grew its stake in Adaptive Biotechnologies by 46.4% in the first quarter. Assetmark Inc. now owns 4,421 shares of the company's stock worth $61,000 after purchasing an additional 1,401 shares in the last quarter. Finally, Nykredit A S bought a new position in Adaptive Biotechnologies in the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 99.17% of the company's stock.
Wall Street Analysts Forecast Growth
ADPT has been the subject of a number of analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research report on Thursday, October 15th. TD Cowen raised their price objective on Adaptive Biotechnologies from $28.00 to $32.00 and gave the stock a "buy" rating in a research note on Tuesday, October 13th. BTIG Research lifted their price objective on Adaptive Biotechnologies from $25.00 to $34.00 and gave the company a "buy" rating in a research report on Tuesday, September 22nd. Morgan Stanley boosted their price objective on Adaptive Biotechnologies from $22.00 to $27.00 and gave the company an "equal weight" rating in a research note on Monday, October 12th. Finally, The Goldman Sachs Group assumed coverage on shares of Adaptive Biotechnologies in a report on Tuesday, September 29th. They issued a "buy" rating and a $35.00 target price for the company. Six investment 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.31.
Read Our Latest Report on ADPT
Adaptive Biotechnologies Company Profile
(
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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