State of New Jersey Common Pension Fund D raised its holdings in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT – Get Rating) by 81.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 185,959 shares of the company’s stock after purchasing an additional 83,267 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Adaptive Biotechnologies were worth $2,581,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. ARK Investment Management LLC grew its stake in Adaptive Biotechnologies by 35.3% during the 1st quarter. ARK Investment Management LLC now owns 7,709,666 shares of the company’s stock valued at $107,010,000 after purchasing an additional 2,011,798 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Adaptive Biotechnologies by 29.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,132,060 shares of the company’s stock valued at $57,353,000 after purchasing an additional 936,614 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its holdings in Adaptive Biotechnologies by 55.9% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,160,923 shares of the company’s stock worth $87,052,000 after buying an additional 1,133,445 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Adaptive Biotechnologies by 9.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,428,460 shares of the company’s stock worth $68,143,000 after buying an additional 209,731 shares during the last quarter. Finally, Bellevue Group AG lifted its holdings in Adaptive Biotechnologies by 47.3% during the 4th quarter. Bellevue Group AG now owns 1,968,431 shares of the company’s stock worth $55,234,000 after buying an additional 632,408 shares during the last quarter. Institutional investors and hedge funds own 88.10% of the company’s stock.
Adaptive Biotechnologies Trading Down 1.5 %
Shares of NASDAQ ADPT opened at $9.16 on Monday. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -5.65 and a beta of 0.92. Adaptive Biotechnologies Co. has a 12-month low of $5.95 and a 12-month high of $40.00. The stock’s 50 day simple moving average is $8.33 and its 200 day simple moving average is $11.10.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on ADPT shares. Piper Sandler started coverage on Adaptive Biotechnologies in a report on Thursday, June 2nd. They set a “neutral” rating and a $7.50 target price on the stock. The Goldman Sachs Group reduced their target price on Adaptive Biotechnologies from $14.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, May 24th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Adaptive Biotechnologies has a consensus rating of “Moderate Buy” and an average target price of $26.08.
About Adaptive Biotechnologies
Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunoSEQ, a platform and core immunosequencing product that is used to answer translational research questions, as well as to discover new prognostic and diagnostic signals; and T-Detect COVID for the confirmation of past COVID-19 infection.
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