Principal Financial Group Inc. Takes Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Principal Financial Group Inc. purchased a new position in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 143,444 shares of the company's stock, valued at approximately $860,000. Principal Financial Group Inc. owned approximately 0.10% of Adaptive Biotechnologies at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in Adaptive Biotechnologies in the 3rd quarter worth approximately $34,000. KBC Group NV acquired a new position in shares of Adaptive Biotechnologies in the fourth quarter worth $50,000. GAMMA Investing LLC purchased a new stake in shares of Adaptive Biotechnologies during the fourth quarter worth $59,000. Townsquare Capital LLC acquired a new stake in Adaptive Biotechnologies during the third quarter valued at $56,000. Finally, Centiva Capital LP purchased a new position in Adaptive Biotechnologies in the third quarter valued at about $80,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ADPT shares. Scotiabank lifted their price target on Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a "sector outperform" rating in a report on Thursday, February 13th. The Goldman Sachs Group lifted 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. BTIG Research increased their price target on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $11.00 price objective (up previously from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $9.10.

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Adaptive Biotechnologies Stock Down 9.3 %

Shares of NASDAQ:ADPT traded down $0.68 during trading on Monday, reaching $6.67. The stock had a trading volume of 2,780,990 shares, compared to its average volume of 1,692,968. The stock has a fifty day simple moving average of $7.55 and a two-hundred day simple moving average of $6.04. Adaptive Biotechnologies Co. has a 52 week low of $2.28 and a 52 week high of $8.95. The firm has a market capitalization of $991.04 million, a price-to-earnings ratio of -6.12 and a beta of 1.53.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, topping 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 period in the prior year, the firm posted ($0.30) EPS. On average, analysts forecast that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Insider Activity at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 158,921 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $8.46, for a total value of $1,344,471.66. Following the completion of the sale, the chief executive officer now directly owns 2,576,701 shares of the company's stock, valued at $21,798,890.46. This represents a 5.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kyle Piskel sold 10,320 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $6.98, for a total transaction of $72,033.60. Following the transaction, the chief financial officer now owns 269,010 shares in the company, valued at approximately $1,877,689.80. The trade was a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 692,903 shares of company stock worth $5,552,572 in the last 90 days. 6.20% of the stock is owned by company 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.