Sumitomo Mitsui Trust Group Inc. Sells 900,747 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Sumitomo Mitsui Trust Group Inc. decreased its stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 11.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,833,137 shares of the company’s stock after selling 900,747 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 4.63% of Adaptive Biotechnologies worth $40,965,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC increased its stake in Adaptive Biotechnologies by 149.5% in the third quarter. Barclays PLC now owns 230,177 shares of the company’s stock valued at $1,180,000 after acquiring an additional 137,936 shares during the last quarter. Millrace Asset Group Inc. bought a new stake in Adaptive Biotechnologies during the third quarter worth about $1,396,000. Point72 Asset Management L.P. bought a new position in shares of Adaptive Biotechnologies during the 3rd quarter valued at about $2,537,000. Rubric Capital Management LP increased its position in shares of Adaptive Biotechnologies by 2.9% during the 3rd quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company’s stock valued at $73,728,000 after purchasing an additional 400,000 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Adaptive Biotechnologies by 58.7% during the 3rd quarter. Cerity Partners LLC now owns 694,417 shares of the company’s stock valued at $3,555,000 after buying an additional 256,933 shares in the last quarter. Institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Price Performance

Shares of Adaptive Biotechnologies stock opened at $7.68 on Tuesday. The stock has a market capitalization of $1.13 billion, a P/E ratio of -5.73 and a beta of 1.50. Adaptive Biotechnologies Co. has a one year low of $2.28 and a one year high of $8.33. The business’s 50 day simple moving average is $6.84 and its two-hundred day simple moving average is $5.53.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADPT. The Goldman Sachs Group boosted their target price on Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. BTIG Research increased their target price on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Piper Sandler lifted their target price on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th.

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.