Matrix Capital Management Company LP Sells 10,922,590 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Matrix Capital Management Company LP reduced its stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 94.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 650,000 shares of the company's stock after selling 10,922,590 shares during the period. Adaptive Biotechnologies accounts for approximately 0.2% of Matrix Capital Management Company LP's investment portfolio, making the stock its 7th biggest position. Matrix Capital Management Company LP owned approximately 0.44% of Adaptive Biotechnologies worth $3,328,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. JTC Employer Solutions Trustee Ltd acquired a new stake in Adaptive Biotechnologies during the 3rd quarter valued at approximately $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Adaptive Biotechnologies during the 3rd quarter worth $34,000. MQS Management LLC bought a new stake in shares of Adaptive Biotechnologies during the 2nd quarter worth $36,000. Rothschild Investment LLC bought a new stake in Adaptive Biotechnologies in the 2nd quarter valued at about $36,000. Finally, Townsquare Capital LLC bought a new stake in shares of Adaptive Biotechnologies during the third quarter valued at about $56,000. Institutional investors own 99.17% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Piper Sandler boosted their price objective on Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an "overweight" rating in a report on Monday, November 11th. BTIG Research upped their target price on Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a "buy" rating in a report on Wednesday, October 2nd.

Adaptive Biotechnologies Trading Down 2.5 %

Shares of ADPT traded down $0.16 during trading hours on Wednesday, hitting $6.14. The company had a trading volume of 1,143,994 shares, compared to its average volume of 1,420,553. The company's fifty day moving average price is $5.16 and its two-hundred day moving average price is $4.43. Adaptive Biotechnologies Co. has a one year low of $2.28 and a one year high of $6.70. The company has a market capitalization of $906.14 million, a PE ratio of -4.57 and a beta of 1.49.

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.