Charles Schwab Investment Management Inc. Has $6.86 Million Stock Holdings in Adaptive Biotechnologies Corporation $ADPT

Charles Schwab Investment Management Inc. lessened its stake in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) by 3.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 922,742 shares of the company’s stock after selling 33,832 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.61% of Adaptive Biotechnologies worth $6,856,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Adaptive Biotechnologies by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 11,143,428 shares of the company’s stock worth $82,796,000 after buying an additional 428,540 shares during the last quarter. Soleus Capital Management L.P. lifted its stake in shares of Adaptive Biotechnologies by 168.1% during the 4th quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company’s stock worth $17,884,000 after buying an additional 1,870,393 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Adaptive Biotechnologies by 9,892.2% during the 1st quarter. Victory Capital Management Inc. now owns 1,764,227 shares of the company’s stock worth $13,108,000 after buying an additional 1,746,571 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Adaptive Biotechnologies by 12.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,604,876 shares of the company’s stock worth $9,622,000 after buying an additional 183,881 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Adaptive Biotechnologies by 13.5% during the 4th quarter. Northern Trust Corp now owns 1,093,981 shares of the company’s stock worth $6,558,000 after buying an additional 130,449 shares during the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ADPT shares. Piper Sandler raised their price target on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Morgan Stanley raised their price target on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. TD Cowen raised their price target on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. The Goldman Sachs Group raised their price target on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Adaptive Biotechnologies from $10.00 to $14.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.38.

Adaptive Biotechnologies Trading Up 1.0%

Shares of Adaptive Biotechnologies stock opened at $12.80 on Wednesday. The firm has a market capitalization of $1.95 billion, a PE ratio of -15.61 and a beta of 1.92. The firm’s 50 day moving average is $11.52 and its 200 day moving average is $9.50. Adaptive Biotechnologies Corporation has a 1 year low of $3.98 and a 1 year high of $13.40.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.07. The company had revenue of $49.94 million for the quarter, compared to analyst estimates of $49.40 million. Adaptive Biotechnologies had a negative net margin of 59.07% and a negative return on equity of 60.93%. The firm’s revenue was up 36.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.31) EPS. As a group, research analysts anticipate that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current year.

Adaptive Biotechnologies Company 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.