Julie Rubinstein Sells 59,505 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) Stock

Adaptive Biotechnologies Co. (NASDAQ:ADPT) COO Julie Rubinstein sold 59,505 shares of Adaptive Biotechnologies stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $6.98, for a total transaction of $415,344.90. Following the completion of the transaction, the chief operating officer now directly owns 588,249 shares in the company, valued at approximately $4,105,978.02. The trade was a 9.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Adaptive Biotechnologies Trading Down 5.4 %

NASDAQ:ADPT opened at $7.35 on Friday. The company has a market cap of $1.08 billion, a PE ratio of -6.74 and a beta of 1.53. Adaptive Biotechnologies Co. has a twelve month low of $2.28 and a twelve month high of $8.95. The company’s 50 day moving average is $7.55 and its two-hundred day moving average is $6.02.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.04. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. During the same quarter in the previous year, the business posted ($0.30) earnings per share. As a group, analysts expect that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

Institutional Trading of Adaptive Biotechnologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Rubric Capital Management LP lifted its stake in Adaptive Biotechnologies by 2.9% during the 3rd quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company’s stock valued at $73,728,000 after acquiring an additional 400,000 shares during the period. ARK Investment Management LLC lifted its stake in Adaptive Biotechnologies by 1.7% during the 3rd quarter. ARK Investment Management LLC now owns 11,601,134 shares of the company’s stock valued at $59,398,000 after acquiring an additional 189,134 shares during the period. Vanguard Group Inc. lifted its stake in Adaptive Biotechnologies by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 10,714,888 shares of the company’s stock valued at $64,236,000 after acquiring an additional 75,448 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in Adaptive Biotechnologies by 12.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company’s stock valued at $39,597,000 after acquiring an additional 834,253 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in Adaptive Biotechnologies by 17.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,370,919 shares of the company’s stock valued at $20,209,000 after acquiring an additional 489,555 shares during the period. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ADPT shares. The Goldman Sachs Group lifted their price objective on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Scotiabank boosted their target price on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 13th. BTIG Research boosted their target price on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, Piper Sandler reissued an “overweight” rating and set a $11.00 target price (up previously from $7.00) on shares of Adaptive Biotechnologies in a research report on Thursday, February 20th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.10.

About Adaptive Biotechnologies

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunosequencing platform which combines a suite of proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data to decode the adaptive immune system.