Charles Schwab Investment Management Inc. Acquires 39,831 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Charles Schwab Investment Management Inc. raised its holdings in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 4.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 956,574 shares of the company’s stock after acquiring an additional 39,831 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.65% of Adaptive Biotechnologies worth $5,735,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ADPT. KBC Group NV bought a new stake in Adaptive Biotechnologies in the fourth quarter valued at about $50,000. Townsquare Capital LLC acquired a new position in shares of Adaptive Biotechnologies during the 3rd quarter worth about $56,000. GAMMA Investing LLC bought a new stake in shares of Adaptive Biotechnologies in the 4th quarter valued at about $59,000. Centiva Capital LP bought a new stake in shares of Adaptive Biotechnologies in the 3rd quarter valued at about $80,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Adaptive Biotechnologies in the 4th quarter valued at approximately $93,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

Insider Activity at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, Director Robert Hershberg sold 53,000 shares of Adaptive Biotechnologies stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $7.59, for a total value of $402,270.00. Following the sale, the director now directly owns 69,690 shares in the company, valued at approximately $528,947.10. The trade was a 43.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chad M. Robins sold 158,921 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $8.46, for a total transaction of $1,344,471.66. Following the sale, the chief executive officer now directly owns 2,576,701 shares in the company, valued at $21,798,890.46. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 755,903 shares of company stock valued at $6,025,342. 6.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. BTIG Research upped their target price on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group raised shares of Adaptive Biotechnologies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $8.00 to $9.00 in a report on Friday. 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 note on Thursday, February 13th. Finally, Piper Sandler reissued an “overweight” rating and issued a $11.00 target price (up from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. 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 $9.40.

Adaptive Biotechnologies Stock Up 3.1 %

Shares of ADPT stock opened at $8.66 on Tuesday. Adaptive Biotechnologies Co. has a 12-month low of $2.28 and a 12-month high of $9.01. The firm has a fifty day moving average of $7.78 and a 200-day moving average of $6.27. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -7.94 and a beta of 1.53.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. During the same quarter in the previous year, the firm posted ($0.30) earnings per share. On average, equities analysts expect that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

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.