Principal Financial Group Inc. Grows Holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Principal Financial Group Inc. raised its position in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 9.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 352,329 shares of the company’s stock after buying an additional 29,042 shares during the period. Principal Financial Group Inc.’s holdings in Adaptive Biotechnologies were worth $14,184,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Private Capital Group LLC grew its position 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 buying an additional 570 shares in the last quarter. Sowell Financial Services LLC boosted its stake in Adaptive Biotechnologies by 138.3% during the 1st quarter. Sowell Financial Services LLC now owns 822 shares of the company’s stock valued at $30,000 after acquiring an additional 477 shares during the last quarter. NEXT Financial Group Inc acquired a new position in Adaptive Biotechnologies during the 4th quarter worth $33,000. BNP Paribas Arbitrage SA increased its position 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 worth $134,000 after purchasing an additional 594 shares during the last quarter. Finally, Rothschild Investment Corp IL acquired a new stake in shares of Adaptive Biotechnologies in the 1st quarter valued at about $201,000. Institutional investors own 80.50% of the company’s stock.

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

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results on Tuesday, May 4th. The company reported ($0.29) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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%. On average, equities research analysts predict that Adaptive Biotechnologies Co. will post -1.55 earnings per share for the current fiscal year.

In other Adaptive Biotechnologies news, SVP Jyoti Palaniappan sold 16,052 shares of the firm’s stock in a transaction that occurred on Thursday, March 18th. The shares were sold at an average price of $43.58, for a total value of $699,546.16. Following the sale, the senior vice president now owns 25,210 shares in the company, valued at $1,098,651.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Harlan S. Robins sold 11,685 shares of Adaptive Biotechnologies stock in a transaction that occurred on Tuesday, April 20th. The shares were sold at an average price of $40.52, for a total value of $473,476.20. Following the sale, the insider now directly owns 81,045 shares in the company, valued at approximately $3,283,943.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,122 shares of company stock worth $5,529,044. Corporate insiders own 3.90% of the company’s stock.

Several analysts recently weighed in on ADPT shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $63.00 price objective (down from $74.00) on shares of Adaptive Biotechnologies in a report on Tuesday, March 9th. Zacks Investment Research raised 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. Finally, Morgan Stanley reduced their price objective on Adaptive Biotechnologies from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, May 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $58.40.

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 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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