Verition Fund Management LLC Sells 15,392 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Verition Fund Management LLC trimmed its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 26.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,965 shares of the company’s stock after selling 15,392 shares during the quarter. Verition Fund Management LLC’s holdings in Adaptive Biotechnologies were worth $220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. JTC Employer Solutions Trustee Ltd bought a new position in Adaptive Biotechnologies in the third quarter valued at about $26,000. Ashton Thomas Securities LLC bought a new position in shares of Adaptive Biotechnologies in the 3rd quarter worth approximately $34,000. Rothschild Investment LLC purchased a new position in shares of Adaptive Biotechnologies in the second quarter worth approximately $36,000. MQS Management LLC bought a new stake in Adaptive Biotechnologies during the second quarter valued at approximately $36,000. Finally, Nisa Investment Advisors LLC increased its holdings in Adaptive Biotechnologies by 769.6% during the second quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company’s stock valued at $48,000 after buying an additional 11,852 shares during the last quarter. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Price Performance

ADPT opened at $6.30 on Monday. The company has a 50 day simple moving average of $5.37 and a two-hundred day simple moving average of $4.59. The firm has a market cap of $929.75 million, a P/E ratio of -4.70 and a beta of 1.49. Adaptive Biotechnologies Co. has a 1-year low of $2.28 and a 1-year high of $7.07.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ADPT. Piper Sandler lifted their price target on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. BTIG Research boosted their price target on Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd.

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.