Adaptive Biotechnologies Corporation $ADPT Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 9.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,704,887 shares of the company’s stock after purchasing an additional 152,378 shares during the quarter. Principal Financial Group Inc.’s holdings in Adaptive Biotechnologies were worth $23,664,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd purchased a new position in Adaptive Biotechnologies during the fourth quarter worth approximately $28,000. EverSource Wealth Advisors LLC grew its stake in shares of Adaptive Biotechnologies by 197.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company’s stock valued at $38,000 after buying an additional 1,565 shares during the period. Assetmark Inc. grew its stake in shares of Adaptive Biotechnologies by 867.9% during the 4th quarter. Assetmark Inc. now owns 3,020 shares of the company’s stock valued at $49,000 after buying an additional 2,708 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Adaptive Biotechnologies during the 4th quarter worth $51,000. Finally, Strive Financial Group LLC acquired a new stake in shares of Adaptive Biotechnologies during the 4th quarter worth $52,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

Insider Buying and Selling

In other Adaptive Biotechnologies news, COO Julie Rubinstein sold 19,060 shares of the stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $14.13, for a total value of $269,317.80. Following the completion of the sale, the chief operating officer owned 390,808 shares of the company’s stock, valued at $5,522,117.04. This trade represents a 4.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harlan S. Robins sold 386,240 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $22.01, for a total transaction of $8,501,142.40. Following the completion of the sale, the insider directly owned 1,019,658 shares of the company’s stock, valued at $22,442,672.58. This trade represents a 27.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 870,544 shares of company stock worth $17,857,363 in the last 90 days. 5.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ADPT. BTIG Research reiterated a “buy” rating and issued a $22.00 target price on shares of Adaptive Biotechnologies in a report on Wednesday, June 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Friday. Morgan Stanley raised their price objective on Adaptive Biotechnologies from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Guggenheim lifted their price objective on Adaptive Biotechnologies from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Finally, TD Cowen reiterated a “buy” rating on shares of Adaptive Biotechnologies in a report on Wednesday, July 15th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.83.

Adaptive Biotechnologies Price Performance

Shares of ADPT opened at $21.86 on Tuesday. Adaptive Biotechnologies Corporation has a 12 month low of $9.96 and a 12 month high of $23.15. The stock’s 50-day moving average is $17.76 and its two-hundred day moving average is $16.25. The stock has a market cap of $3.50 billion, a PE ratio of -66.24 and a beta of 2.07.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results on Tuesday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. The business had revenue of $70.87 million during the quarter, compared to analyst estimates of $61.03 million. Adaptive Biotechnologies had a negative return on equity of 40.06% and a negative net margin of 16.82%.The company’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.20) earnings per share. On average, research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.47 earnings per share for the current year.

About Adaptive Biotechnologies

Adaptive Biotechnologies is a clinical-stage biotechnology company that focuses on harnessing the adaptive immune system to transform the diagnosis and treatment of disease. Through proprietary immune receptor sequencing and analysis, the company decodes the genetic information of T-cell and B-cell receptors to identify signatures of immune response. Its core technology platform provides insights into immune-driven conditions, enabling more precise monitoring and targeted therapeutic development.

The company’s flagship product, immunoSEQ, offers high-throughput immune repertoire profiling for researchers and pharmaceutical partners.