Charles Schwab Investment Management Inc. Has $5.74 Million Holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Charles Schwab Investment Management Inc. lifted its position in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 4.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 956,574 shares of the company’s stock after acquiring an additional 39,831 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Adaptive Biotechnologies were worth $5,735,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new position in shares of Adaptive Biotechnologies during the 3rd quarter worth about $176,000. Cerity Partners LLC raised its stake in Adaptive Biotechnologies by 58.7% in the third quarter. Cerity Partners LLC now owns 694,417 shares of the company’s stock valued at $3,555,000 after buying an additional 256,933 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Adaptive Biotechnologies in the third quarter valued at approximately $177,000. FMR LLC boosted its stake in shares of Adaptive Biotechnologies by 102.0% during the 3rd quarter. FMR LLC now owns 233,566 shares of the company’s stock worth $1,196,000 after acquiring an additional 117,965 shares during the period. Finally, Millrace Asset Group Inc. acquired a new position in shares of Adaptive Biotechnologies during the 3rd quarter worth approximately $1,396,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADPT has been the subject of several research reports. Scotiabank raised their price target on Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a report on Thursday, February 13th. BTIG Research raised their target price on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler reiterated an “overweight” rating and issued a $11.00 price target (up previously from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group upgraded shares of Adaptive Biotechnologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $8.00 to $9.00 in a research report on Friday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $9.40.

Adaptive Biotechnologies Stock Performance

Shares of Adaptive Biotechnologies stock opened at $8.66 on Tuesday. The firm has a 50-day moving average of $7.78 and a 200-day moving average of $6.27. Adaptive Biotechnologies Co. has a 52-week low of $2.28 and a 52-week high of $9.01. The stock has a market cap of $1.29 billion, a PE ratio of -7.94 and a beta of 1.53.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. During the same period in the prior year, the company posted ($0.30) earnings per share. Equities research analysts predict that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current fiscal year.

Insider Activity at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 211,160 shares of Adaptive Biotechnologies stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $8.50, for a total value of $1,794,860.00. Following the completion of the transaction, the chief executive officer now directly owns 2,576,701 shares of the company’s stock, valued at $21,901,958.50. The trade was a 7.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Francis Lo sold 20,875 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $6.99, for a total value of $145,916.25. Following the sale, the insider now directly owns 332,846 shares in the company, valued at approximately $2,326,593.54. This trade represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 755,903 shares of company stock worth $6,025,342. Company insiders own 6.20% of the company’s stock.

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.