Adaptive Biotechnologies Co. (NASDAQ:ADPT) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 1.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 887,833 shares of the company’s stock after selling 14,724 shares during the period. JPMorgan Chase & Co. owned 0.60% of Adaptive Biotechnologies worth $4,546,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Millennium Management LLC raised its holdings 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 during the period. Rubric Capital Management LP raised its stake 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 worth $50,680,000 after purchasing an additional 3,500,000 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Adaptive Biotechnologies by 50.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,912,027 shares of the company’s stock worth $14,162,000 after purchasing an additional 1,319,709 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Adaptive Biotechnologies by 12.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company’s stock valued at $39,597,000 after purchasing an additional 834,253 shares during the last quarter. Finally, Clearline Capital LP purchased a new stake in shares of Adaptive Biotechnologies in the 3rd quarter valued at approximately $3,147,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Price Performance

Shares of ADPT opened at $6.81 on Friday. The firm has a 50-day simple moving average of $6.12 and a two-hundred day simple moving average of $5.11. The stock has a market cap of $1.01 billion, a PE ratio of -5.08 and a beta of 1.47. Adaptive Biotechnologies Co. has a 1-year low of $2.28 and a 1-year high of $7.46.

Wall Street Analysts Forecast Growth

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

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.