Adaptive Biotechnologies Corporation $ADPT Shares Acquired by Legal & General Group Plc

Legal & General Group Plc lifted its stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 21.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 249,120 shares of the company’s stock after acquiring an additional 43,927 shares during the quarter. Legal & General Group Plc owned 0.16% of Adaptive Biotechnologies worth $2,902,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ADPT. Ameriprise Financial Inc. grew its stake in Adaptive Biotechnologies by 801.6% during the 1st quarter. Ameriprise Financial Inc. now owns 6,642,476 shares of the company’s stock worth $49,355,000 after purchasing an additional 5,905,756 shares in the last quarter. Braidwell LP acquired a new position in shares of Adaptive Biotechnologies during the first quarter worth about $35,692,000. Iron Triangle Partners LP purchased a new stake in shares of Adaptive Biotechnologies during the first quarter worth approximately $15,856,000. Driehaus Capital Management LLC increased its stake in shares of Adaptive Biotechnologies by 154.4% during the first quarter. Driehaus Capital Management LLC now owns 2,152,335 shares of the company’s stock worth $15,992,000 after buying an additional 1,306,164 shares during the period. Finally, Nuveen LLC acquired a new stake in Adaptive Biotechnologies in the first quarter valued at approximately $9,623,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Stock Performance

Shares of NASDAQ ADPT opened at $14.75 on Monday. The company’s fifty day moving average is $16.36 and its two-hundred day moving average is $13.25. Adaptive Biotechnologies Corporation has a one year low of $5.80 and a one year high of $20.76. The firm has a market capitalization of $2.25 billion, a P/E ratio of -27.31 and a beta of 2.20.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The company had revenue of $93.97 million during the quarter, compared to the consensus estimate of $58.76 million. Adaptive Biotechnologies had a negative net margin of 31.50% and a negative return on equity of 58.40%. The company’s revenue for the quarter was up 102.4% on a year-over-year basis. During the same period last year, the firm earned ($0.22) EPS. On average, sell-side analysts forecast that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wall Street Zen upgraded shares of Adaptive Biotechnologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on shares of Adaptive Biotechnologies from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Piper Sandler boosted their price objective on Adaptive Biotechnologies from $15.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Finally, BTIG Research upped their target price on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Adaptive Biotechnologies has a consensus rating of “Moderate Buy” and an average price target of $17.11.

Insider Buying and Selling at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, CFO Kyle Piskel sold 162,820 shares of the company’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $19.50, for a total value of $3,174,990.00. Following the sale, the chief financial officer owned 216,637 shares of the company’s stock, valued at $4,224,421.50. This represents a 42.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Harlan S. Robins sold 27,212 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $18.61, for a total value of $506,415.32. Following the completion of the sale, the insider directly owned 1,242,312 shares in the company, valued at approximately $23,119,426.32. The trade was a 2.14% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,066,671 shares of company stock worth $18,529,001. 6.40% of the stock is currently owned by insiders.

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.