Legal & General Group Plc Buys 97,798 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Legal & General Group Plc increased its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 902.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 108,630 shares of the company's stock after buying an additional 97,798 shares during the period. Legal & General Group Plc owned 0.07% of Adaptive Biotechnologies worth $651,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC lifted its holdings in shares of Adaptive Biotechnologies by 149.5% during the third quarter. Barclays PLC now owns 230,177 shares of the company's stock worth $1,180,000 after buying an additional 137,936 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Adaptive Biotechnologies by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 956,574 shares of the company's stock valued at $5,735,000 after purchasing an additional 39,831 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Adaptive Biotechnologies during the 4th quarter valued at $860,000. Proficio Capital Partners LLC bought a new stake in Adaptive Biotechnologies in the 4th quarter valued at $93,000. Finally, Amundi grew its position in Adaptive Biotechnologies by 41.2% in the 4th quarter. Amundi now owns 15,532 shares of the company's stock worth $93,000 after purchasing an additional 4,531 shares during the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Adaptive Biotechnologies Stock Performance

Shares of ADPT stock traded up $2.48 during trading hours on Friday, hitting $9.84. The company had a trading volume of 15,566,433 shares, compared to its average volume of 1,546,287. Adaptive Biotechnologies Co. has a 12 month low of $2.99 and a 12 month high of $10.28. The firm's fifty day moving average is $7.76 and its 200 day moving average is $6.90. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -9.03 and a beta of 1.75.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share for the quarter, beating analysts' consensus estimates of ($0.28) by $0.08. The firm had revenue of $52.44 million for the quarter, compared to analysts' expectations of $42.13 million. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. The business's revenue was up 25.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.33) earnings per share. On average, sell-side analysts expect that Adaptive Biotechnologies Co. will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert Hershberg sold 53,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $7.59, for a total transaction of $402,270.00. Following the sale, the director now directly owns 69,690 shares in the company, valued at $528,947.10. This represents a 43.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chad M. Robins sold 158,921 shares of Adaptive Biotechnologies 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 transaction, the chief executive officer now owns 2,576,701 shares of the company's stock, valued at approximately $21,798,890.46. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 757,601 shares of company stock worth $6,040,624 in the last quarter. 6.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ADPT has been the subject of several research reports. Piper Sandler reiterated an "overweight" rating and issued a $11.00 target price (up previously from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. Scotiabank raised their price objective on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a "sector outperform" rating in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group boosted their price objective on Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Friday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $9.60.

Adaptive Biotechnologies Profile

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.