Adaptive Biotechnologies Co. (NASDAQ:ADPT) Stock Position Trimmed by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP trimmed its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 21.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,369,097 shares of the company’s stock after selling 374,519 shares during the period. Dimensional Fund Advisors LP’s holdings in Adaptive Biotechnologies were worth $4,955,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Manchester Capital Management LLC bought a new stake in shares of Adaptive Biotechnologies during the first quarter valued at approximately $32,000. Rothschild Investment LLC acquired a new stake in Adaptive Biotechnologies in the 2nd quarter valued at approximately $36,000. Personal CFO Solutions LLC acquired a new stake in Adaptive Biotechnologies in the 4th quarter valued at approximately $55,000. Nisa Investment Advisors LLC raised its stake in Adaptive Biotechnologies by 769.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company’s stock valued at $48,000 after acquiring an additional 11,852 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in Adaptive Biotechnologies during the 1st quarter worth $46,000. Institutional investors own 99.17% of the company’s stock.

Analyst Upgrades and Downgrades

ADPT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. BTIG Research increased their target price on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $7.00.

Adaptive Biotechnologies Stock Performance

ADPT opened at $5.00 on Thursday. The stock’s fifty day moving average is $4.63 and its 200-day moving average is $3.81. Adaptive Biotechnologies Co. has a one year low of $2.28 and a one year high of $5.80. The company has a market capitalization of $736.84 million, a PE ratio of -3.36 and a beta of 1.44.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.02. Adaptive Biotechnologies had a negative net margin of 126.49% and a negative return on equity of 60.99%. The firm had revenue of $43.19 million for the quarter, compared to analysts’ expectations of $38.63 million. During the same period in the previous year, the business earned ($0.33) earnings per share. Adaptive Biotechnologies’s revenue for the quarter was down 11.7% compared to the same quarter last year. On average, equities research analysts forecast that Adaptive Biotechnologies Co. will post -1.19 EPS for the current fiscal year.

About Adaptive Biotechnologies

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.