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

Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report) 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 value 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. This represents a 9.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Adaptive Biotechnologies Stock Performance

Shares of ADPT stock traded down $0.68 during mid-day trading on Monday, reaching $6.67. The company's stock had a trading volume of 2,781,202 shares, compared to its average volume of 1,693,006. The firm's 50-day moving average is $7.55 and its two-hundred day moving average is $6.04. The company has a market cap of $991.04 million, a P/E ratio of -6.12 and a beta of 1.53. Adaptive Biotechnologies Co. has a 1-year low of $2.28 and a 1-year high of $8.95.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its quarterly earnings results 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 return on equity of 64.65% and a negative net margin of 89.12%. During the same period last year, the business posted ($0.30) EPS. Sell-side analysts anticipate that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Piper Sandler reaffirmed 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. Scotiabank boosted their price objective on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a "sector outperform" rating in a report on Thursday, February 13th. The Goldman Sachs Group increased their target price on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Finally, BTIG Research lifted their target price on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $9.10.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ADPT. Barclays PLC grew its holdings in Adaptive Biotechnologies by 149.5% during the 3rd quarter. Barclays PLC now owns 230,177 shares of the company's stock worth $1,180,000 after acquiring an additional 137,936 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted 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 worth $39,597,000 after acquiring an additional 834,253 shares during the last quarter. Millrace Asset Group Inc. acquired a new position in Adaptive Biotechnologies during the third quarter valued at approximately $1,396,000. Point72 Asset Management L.P. acquired a new position in Adaptive Biotechnologies during the third quarter valued at approximately $2,537,000. Finally, Rubric Capital Management LP increased its stake in Adaptive Biotechnologies by 2.9% in the third quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company's stock valued at $73,728,000 after purchasing an additional 400,000 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors.

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.