Caprock Group LLC Cuts Stock Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Caprock Group LLC lowered its stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 19.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,415 shares of the company’s stock after selling 2,500 shares during the quarter. Caprock Group LLC’s holdings in Adaptive Biotechnologies were worth $62,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. JTC Employer Solutions Trustee Ltd bought a new position in Adaptive Biotechnologies during the 3rd quarter valued at $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Adaptive Biotechnologies in the 3rd quarter worth approximately $34,000. KBC Group NV acquired a new position in Adaptive Biotechnologies during the 4th quarter valued at approximately $50,000. GAMMA Investing LLC bought a new position in Adaptive Biotechnologies during the 4th quarter worth $59,000. Finally, Townsquare Capital LLC acquired a new position in Adaptive Biotechnologies during the 3rd quarter valued at about $56,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Stock Performance

Shares of NASDAQ:ADPT opened at $7.84 on Friday. The firm has a 50 day simple moving average of $6.80 and a 200 day simple moving average of $5.49. The company has a market cap of $1.16 billion, a PE ratio of -5.85 and a beta of 1.49. Adaptive Biotechnologies Co. has a 52 week low of $2.28 and a 52 week high of $8.33.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Piper Sandler raised their price objective on Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, BTIG Research boosted their target price on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock 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.