Charles Schwab Investment Management Inc. Decreases Stock Position in Adaptive Biotechnologies Corporation $ADPT

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in Adaptive Biotechnologies Corporation by 3.5%, owning approximately 0.61% of the company's stock, valued at $6.86 million.
• Multiple hedge funds have increased their stakes in Adaptive Biotechnologies, with notable increases from Victory Capital Management Inc. at 9,892.2% and Soleus Capital Management L.P. at 168.1%.
• Equities analysts have a consensus rating of "Moderate Buy" for Adaptive Biotechnologies, with price target increases from firms such as Piper Sandler and JPMorgan Chase.

Charles Schwab Investment Management Inc. decreased its holdings in shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 922,742 shares of the company's stock after selling 33,832 shares during the period. Charles Schwab Investment Management Inc. owned 0.61% of Adaptive Biotechnologies worth $6,856,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blair William & Co. IL bought a new stake in shares of Adaptive Biotechnologies during the 1st quarter valued at about $84,000. Personal CFO Solutions LLC bought a new stake in shares of Adaptive Biotechnologies during the 1st quarter valued at about $84,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Adaptive Biotechnologies during the 1st quarter valued at about $87,000. Bridgefront Capital LLC bought a new stake in shares of Adaptive Biotechnologies during the 4th quarter valued at about $80,000. Finally, GAMMA Investing LLC boosted its position in shares of Adaptive Biotechnologies by 36.5% during the 1st quarter. GAMMA Investing LLC now owns 13,393 shares of the company's stock valued at $100,000 after purchasing an additional 3,583 shares in the last quarter. Institutional investors own 99.17% of the company's stock.

Adaptive Biotechnologies Stock Down 1.0%

Adaptive Biotechnologies stock traded down $0.13 during mid-day trading on Friday, reaching $13.18. 2,423,871 shares of the company's stock were exchanged, compared to its average volume of 2,232,985. The business's fifty day simple moving average is $11.68 and its 200 day simple moving average is $9.61. The firm has a market capitalization of $2.01 billion, a PE ratio of -16.07 and a beta of 1.92. Adaptive Biotechnologies Corporation has a one year low of $3.98 and a one year high of $13.52.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.17) EPS for the quarter, topping analysts' consensus estimates of ($0.24) by $0.07. The business had revenue of $49.94 million for the quarter, compared to analyst estimates of $49.40 million. Adaptive Biotechnologies had a negative return on equity of 60.93% and a negative net margin of 59.07%.Adaptive Biotechnologies's quarterly revenue was up 36.3% compared to the same quarter last year. During the same period last year, the company posted ($0.31) earnings per share. On average, sell-side analysts forecast that Adaptive Biotechnologies Corporation will post -0.92 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. TD Cowen increased their price target on Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Piper Sandler increased their price target on Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Morgan Stanley increased their price target on Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. JPMorgan Chase & Co. increased their price target on Adaptive Biotechnologies from $10.00 to $14.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Finally, Craig Hallum assumed coverage on Adaptive Biotechnologies in a report on Wednesday, June 18th. They issued a "buy" rating and a $15.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $12.38.

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.