Jacobs Levy Equity Management Inc. Purchases New Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Jacobs Levy Equity Management Inc. acquired a new position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 143,679 shares of the company’s stock, valued at approximately $736,000. Jacobs Levy Equity Management Inc. owned approximately 0.10% of Adaptive Biotechnologies at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millennium Management LLC increased its position 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 in the last quarter. Rubric Capital Management LP increased its holdings in shares of 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 buying an additional 3,500,000 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Adaptive Biotechnologies by 50.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,912,027 shares of the company’s stock valued at $14,162,000 after acquiring an additional 1,319,709 shares during the last quarter. ARK Investment Management LLC boosted its holdings in shares of Adaptive Biotechnologies by 8.1% in the 2nd quarter. ARK Investment Management LLC now owns 11,412,000 shares of the company’s stock worth $41,311,000 after acquiring an additional 850,704 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in Adaptive Biotechnologies by 12.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company’s stock worth $39,597,000 after acquiring an additional 834,253 shares during the last quarter. 99.17% of the stock is owned by institutional investors.

Adaptive Biotechnologies Price Performance

ADPT opened at $6.44 on Tuesday. The firm has a 50 day simple moving average of $5.28 and a 200 day simple moving average of $4.51. Adaptive Biotechnologies Co. has a fifty-two week low of $2.28 and a fifty-two week high of $6.70. The company has a market cap of $950.42 million, a price-to-earnings ratio of -4.81 and a beta of 1.49.

Wall Street Analyst Weigh In

ADPT has been the subject of a number of research analyst reports. Piper Sandler lifted their price target on Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an “overweight” rating in a report on Monday, November 11th. BTIG Research boosted their target price on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the stock a “buy” rating in a research note 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.