GAMMA Investing LLC Makes New Investment in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

GAMMA Investing LLC bought a new position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 9,810 shares of the company’s stock, valued at approximately $59,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADPT. Millennium Management LLC increased 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 purchasing an additional 8,426,580 shares during the last quarter. Rubric Capital Management LP grew its holdings in Adaptive Biotechnologies by 33.3% during 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. Massachusetts Financial Services Co. MA increased its holdings in Adaptive Biotechnologies by 50.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,912,027 shares of the company’s stock worth $14,162,000 after acquiring an additional 1,319,709 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Adaptive Biotechnologies by 12.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company’s stock worth $39,597,000 after purchasing an additional 834,253 shares in the last quarter. Finally, Clearline Capital LP bought a new stake in shares of Adaptive Biotechnologies in the third quarter valued at approximately $3,147,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. BTIG Research raised their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Piper Sandler raised their price target on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an “overweight” rating in a report on Monday, November 11th.

Adaptive Biotechnologies Trading Down 2.8 %

Shares of Adaptive Biotechnologies stock opened at $6.50 on Monday. The firm has a market capitalization of $959.26 million, a PE ratio of -4.85 and a beta of 1.47. The business’s 50-day moving average price is $6.01 and its 200-day moving average price is $5.01. Adaptive Biotechnologies Co. has a 12 month low of $2.28 and a 12 month high of $7.46.

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.