Rubric Capital Management LP Raises Holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Rubric Capital Management LP grew its holdings in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 2.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,400,000 shares of the company's stock after purchasing an additional 400,000 shares during the period. Adaptive Biotechnologies comprises about 1.2% of Rubric Capital Management LP's portfolio, making the stock its 19th biggest position. Rubric Capital Management LP owned about 9.76% of Adaptive Biotechnologies worth $73,728,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. JTC Employer Solutions Trustee Ltd purchased a new position in Adaptive Biotechnologies in the third quarter valued at $26,000. Ashton Thomas Securities LLC acquired a new stake in Adaptive Biotechnologies in the 3rd quarter valued at about $34,000. Rothschild Investment LLC purchased a new position in shares of Adaptive Biotechnologies in the 2nd quarter valued at about $36,000. MQS Management LLC acquired a new position in shares of Adaptive Biotechnologies during the second quarter worth about $36,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of Adaptive Biotechnologies by 769.6% during the second quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company's stock worth $48,000 after buying an additional 11,852 shares during the period. Institutional investors and hedge funds own 99.17% of the company's stock.

Adaptive Biotechnologies Stock Up 0.9 %

ADPT traded up $0.05 on Wednesday, reaching $5.73. The company's stock had a trading volume of 837,536 shares, compared to its average volume of 1,424,060. The company has a market capitalization of $845.63 million, a price-to-earnings ratio of -4.24 and a beta of 1.45. Adaptive Biotechnologies Co. has a fifty-two week low of $2.28 and a fifty-two week high of $6.70. The stock has a 50 day moving average of $5.00 and a two-hundred day moving average of $4.35.

Analyst Ratings Changes

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

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 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.