Adaptive Biotechnologies (NASDAQ:ADPT) Stock: Insider Julie Rubinstein Sells 11,881 Shares

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) COO Julie Rubinstein sold 11,881 shares of the company’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $30.12, for a total transaction of $357,855.72. Following the sale, the chief operating officer directly owned 377,802 shares in the company, valued at $11,379,396.24. This trade represents a 3.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 shares were 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 transaction 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 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 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 shares were sold at an average price of $25.61, for a total transaction 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 transaction of $302,965.50.

Adaptive Biotechnologies Price Performance

Shares of NASDAQ ADPT opened at $29.94 on Thursday. The company has a 50-day moving average price of $26.72 and a 200-day moving average price of $20.03. Adaptive Biotechnologies Corporation has a 1 year low of $12.00 and a 1 year high of $32.21. 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) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $83.90 million during the quarter, compared to the consensus estimate of $71.57 million. During the same quarter in the previous year, the business earned $0.06 EPS. The company’s quarterly revenue was down 10.7% on a year-over-year basis. On average, sell-side analysts anticipate that Adaptive Biotechnologies Corporation will post -0.29 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Edgestream Partners L.P. bought a new stake in Adaptive Biotechnologies during the third quarter valued at $621,000. HighTower Advisors LLC purchased a new position in Adaptive Biotechnologies in the 3rd quarter worth approximately $216,000. Virtus Advisers LLC increased its holdings in shares of Adaptive Biotechnologies by 16.1% in the 3rd quarter. Virtus Advisers LLC now owns 18,810 shares of the company’s stock worth $544,000 after buying an additional 2,613 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Adaptive Biotechnologies by 14.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 89,721 shares of the company’s stock valued at $2,593,000 after buying an additional 10,999 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. purchased a new stake in shares of Adaptive Biotechnologies during the 3rd quarter valued at $252,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ADPT. Morgan Stanley boosted their target price on Adaptive Biotechnologies from $22.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Monday, October 12th. The Goldman Sachs Group started coverage on shares of Adaptive Biotechnologies in a report on Tuesday, September 29th. They set a “buy” rating and a $35.00 price objective for the company. Guggenheim boosted their target price on shares of Adaptive Biotechnologies from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday. BTIG Research lifted their price target 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. Finally, TD Cowen raised their target price on Adaptive Biotechnologies from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, October 13th. 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’s stock. According to MarketBeat, Adaptive Biotechnologies presently has an average rating of “Moderate Buy” and an average target price of $30.31.

Adaptive Biotechnologies Company Profile

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.