Millrace Asset Group Inc. Makes New $1.40 Million Investment in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Millrace Asset Group Inc. acquired a new stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) during the 3rd quarter, Holdings Channel reports. The fund acquired 272,681 shares of the company’s stock, valued at approximately $1,396,000.

Other large investors also recently modified their holdings of the company. FMR LLC raised its holdings in Adaptive Biotechnologies by 102.0% during the third quarter. FMR LLC now owns 233,566 shares of the company’s stock valued at $1,196,000 after acquiring an additional 117,965 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Adaptive Biotechnologies during the third quarter worth about $177,000. Cerity Partners LLC grew its position in shares of Adaptive Biotechnologies by 58.7% during the third quarter. Cerity Partners LLC now owns 694,417 shares of the company’s stock worth $3,555,000 after purchasing an additional 256,933 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Adaptive Biotechnologies by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 916,743 shares of the company’s stock valued at $4,694,000 after purchasing an additional 10,262 shares during the period. Finally, Intech Investment Management LLC purchased a new position in Adaptive Biotechnologies in the 3rd quarter worth approximately $176,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ADPT shares. BTIG Research lifted their price objective on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. raised their target price on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Piper Sandler boosted 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.

Adaptive Biotechnologies Price Performance

NASDAQ:ADPT opened at $5.58 on Tuesday. The company has a market cap of $823.50 million, a price-to-earnings ratio of -4.16 and a beta of 1.45. Adaptive Biotechnologies Co. has a 1 year low of $2.28 and a 1 year high of $6.70. The stock’s 50 day simple moving average is $4.98 and its two-hundred day simple moving average is $4.33.

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.