Fmr LLC Grows Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Fmr LLC raised its holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 102.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 233,566 shares of the company’s stock after acquiring an additional 117,965 shares during the quarter. Fmr LLC owned 0.16% of Adaptive Biotechnologies worth $1,196,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Rubric Capital Management LP lifted its stake in shares of Adaptive Biotechnologies by 33.3% in the second quarter. Rubric Capital Management LP now owns 14,000,000 shares of the company’s stock valued at $50,680,000 after purchasing an additional 3,500,000 shares during the period. ARK Investment Management LLC lifted its position in shares of Adaptive Biotechnologies by 1.7% during the 3rd quarter. ARK Investment Management LLC now owns 11,601,134 shares of the company’s stock valued at $59,398,000 after acquiring an additional 189,134 shares during the period. Millennium Management LLC boosted its stake in shares of Adaptive Biotechnologies by 1,008.3% during the 2nd quarter. Millennium Management LLC now owns 9,262,341 shares of the company’s stock worth $33,530,000 after acquiring an additional 8,426,580 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Adaptive Biotechnologies by 12.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company’s stock worth $39,597,000 after acquiring an additional 834,253 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Adaptive Biotechnologies by 11.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,899,631 shares of the company’s stock worth $24,977,000 after acquiring an additional 722,924 shares during the period. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADPT has been the subject of several research reports. BTIG Research lifted their price objective on Adaptive Biotechnologies from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Piper Sandler lifted their price target on Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th.

Adaptive Biotechnologies Price Performance

Shares of ADPT opened at $6.78 on Tuesday. Adaptive Biotechnologies Co. has a 1-year low of $2.28 and a 1-year high of $7.07. The firm has a 50 day simple moving average of $5.40 and a 200-day simple moving average of $4.61. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -5.06 and a beta of 1.49.

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.