Adaptive Biotechnologies Co. (NASDAQ:ADPT) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 9.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 352,329 shares of the company’s stock after buying an additional 29,042 shares during the period. Principal Financial Group Inc. owned 0.25% of Adaptive Biotechnologies worth $14,184,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NEXT Financial Group Inc acquired a new stake in Adaptive Biotechnologies during the 4th quarter worth $33,000. Private Capital Group LLC grew its holdings in shares of Adaptive Biotechnologies by 1,266.7% during the first quarter. Private Capital Group LLC now owns 615 shares of the company’s stock worth $25,000 after purchasing an additional 570 shares during the last quarter. Sowell Financial Services LLC increased its position in shares of Adaptive Biotechnologies by 138.3% during the first quarter. Sowell Financial Services LLC now owns 822 shares of the company’s stock worth $30,000 after purchasing an additional 477 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Adaptive Biotechnologies by 21.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,331 shares of the company’s stock valued at $134,000 after purchasing an additional 594 shares during the last quarter. Finally, Adalta Capital Management LLC acquired a new stake in shares of Adaptive Biotechnologies in the 4th quarter valued at about $207,000. 80.50% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO Chad M. Robins sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 17th. The stock was sold at an average price of $44.16, for a total value of $220,800.00. Following the sale, the chief executive officer now owns 1,776,560 shares in the company, valued at approximately $78,452,889.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Chad M. Cohen sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 8th. The shares were sold at an average price of $37.05, for a total value of $370,500.00. Following the completion of the transaction, the chief financial officer now directly owns 31,604 shares of the company’s stock, valued at $1,170,928.20. The disclosure for this sale can be found here. In the last three months, insiders sold 137,122 shares of company stock valued at $5,529,044. 3.90% of the stock is owned by corporate insiders.

A number of brokerages have weighed in on ADPT. The Goldman Sachs Group reiterated a “neutral” rating and issued a $63.00 price objective (down previously from $74.00) on shares of Adaptive Biotechnologies in a research note on Tuesday, March 9th. Morgan Stanley decreased their target price on shares of Adaptive Biotechnologies from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Friday, May 7th. Finally, Zacks Investment Research upgraded Adaptive Biotechnologies from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $58.40.

Shares of Adaptive Biotechnologies stock opened at $37.92 on Friday. The firm has a market capitalization of $5.32 billion, a price-to-earnings ratio of -32.97 and a beta of 0.27. Adaptive Biotechnologies Co. has a 52-week low of $30.41 and a 52-week high of $71.25. The business’s 50-day moving average price is $38.54.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results on Tuesday, May 4th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.12. Adaptive Biotechnologies had a negative return on equity of 22.42% and a negative net margin of 134.12%. As a group, analysts expect that Adaptive Biotechnologies Co. will post -1.55 earnings per share for the current fiscal year.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunoSEQ research service and kit that is used to answer translational research questions, as well as to discover new prognostic and diagnostic signals; and T-Detect COVID for the confirmation of past COVID-19 infection.

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Institutional Ownership by Quarter for Adaptive Biotechnologies (NASDAQ:ADPT)

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