Charles Schwab Investment Management Inc. Has $6.86 Million Holdings 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 position in Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ADPT. Soleus Capital Management L.P. raised its position in shares of Adaptive Biotechnologies by 168.1% during the fourth quarter. Soleus Capital Management L.P. now owns 2,983,142 shares of the company's stock worth $17,884,000 after purchasing an additional 1,870,393 shares during the period. Victory Capital Management Inc. raised its position in shares of Adaptive Biotechnologies by 9,892.2% during the first quarter. Victory Capital Management Inc. now owns 1,764,227 shares of the company's stock worth $13,108,000 after purchasing an additional 1,746,571 shares during the period. Ameriprise Financial Inc. raised its position in shares of Adaptive Biotechnologies by 794.0% during the fourth quarter. Ameriprise Financial Inc. now owns 736,720 shares of the company's stock worth $4,417,000 after purchasing an additional 654,309 shares during the period. Deutsche Bank AG raised its position in shares of Adaptive Biotechnologies by 397.6% during the fourth quarter. Deutsche Bank AG now owns 630,577 shares of the company's stock worth $3,783,000 after purchasing an additional 503,842 shares during the period. Finally, Point72 Asset Management L.P. raised its position in shares of Adaptive Biotechnologies by 89.2% during the fourth quarter. Point72 Asset Management L.P. now owns 937,331 shares of the company's stock worth $5,619,000 after purchasing an additional 441,839 shares during the period. 99.17% of the stock is owned by institutional investors and hedge funds.

Adaptive Biotechnologies Trading Down 1.0%

ADPT stock traded down $0.13 during mid-day trading on Monday, hitting $13.18. The stock had a trading volume of 2,423,871 shares, compared to its average volume of 2,268,630. Adaptive Biotechnologies Corporation has a 1-year low of $3.98 and a 1-year high of $13.52. The company has a fifty day moving average of $11.74 and a 200 day moving average of $9.65. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -16.07 and a beta of 1.93.

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

Analysts Set New Price Targets

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

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.