Dimensional Fund Advisors LP Increases Stock Holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Dimensional Fund Advisors LP boosted its holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 12.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,604,876 shares of the company’s stock after purchasing an additional 183,881 shares during the period. Dimensional Fund Advisors LP’s holdings in Adaptive Biotechnologies were worth $9,622,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. KBC Group NV acquired a new stake in shares of Adaptive Biotechnologies during the fourth quarter worth $50,000. GAMMA Investing LLC bought a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth approximately $59,000. Cibc World Markets Corp acquired a new position in shares of Adaptive Biotechnologies in the 4th quarter worth $65,000. Proficio Capital Partners LLC acquired a new stake in shares of Adaptive Biotechnologies during the fourth quarter valued at approximately $93,000. Finally, Amundi grew its holdings in shares of Adaptive Biotechnologies by 41.2% during the fourth quarter. Amundi now owns 15,532 shares of the company’s stock valued at $93,000 after buying an additional 4,531 shares in the last quarter. Institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Stock Down 2.6 %

NASDAQ ADPT opened at $9.03 on Friday. The firm’s 50 day moving average is $7.86 and its 200-day moving average is $7.06. Adaptive Biotechnologies Co. has a 12-month low of $2.99 and a 12-month high of $10.28. The company has a market capitalization of $1.37 billion, a PE ratio of -8.28 and a beta of 1.75.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.08. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. The firm had revenue of $52.44 million during the quarter, compared to analysts’ expectations of $42.13 million. During the same quarter last year, the company posted ($0.33) earnings per share. The company’s revenue for the quarter was up 25.2% compared to the same quarter last year. As a group, sell-side analysts expect that Adaptive Biotechnologies Co. will post -0.92 EPS for the current year.

Insider Activity at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 158,921 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were 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 of the company’s stock, valued at $21,798,890.46. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Harlan S. Robins sold 68,412 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $7.35, for a total transaction of $502,828.20. Following the transaction, the insider now owns 1,279,524 shares of the company’s stock, valued at approximately $9,404,501.40. The trade was a 5.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 826,013 shares of company stock worth $6,543,452. Corporate insiders own 6.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Scotiabank boosted their target price on Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 13th. Morgan Stanley boosted their price objective on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Piper Sandler reiterated an “overweight” rating and set a $13.00 price target (up previously from $11.00) on shares of Adaptive Biotechnologies in a research note on Tuesday. Finally, The Goldman Sachs Group increased their price objective on Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.

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.