Jennison Associates LLC Sells 53,673 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Jennison Associates LLC cut its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 23.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 177,858 shares of the company's stock after selling 53,673 shares during the quarter. Jennison Associates LLC owned approximately 0.12% of Adaptive Biotechnologies worth $1,066,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in shares of Adaptive Biotechnologies by 188.7% in the second quarter. Renaissance Technologies LLC now owns 151,800 shares of the company's stock valued at $550,000 after acquiring an additional 99,217 shares in the last quarter. AQR Capital Management LLC grew its stake in Adaptive Biotechnologies by 244.4% in the 2nd quarter. AQR Capital Management LLC now owns 182,076 shares of the company's stock valued at $635,000 after purchasing an additional 129,201 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Adaptive Biotechnologies by 5.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,834 shares of the company's stock valued at $177,000 after purchasing an additional 2,710 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of Adaptive Biotechnologies during the 2nd quarter worth $49,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Adaptive Biotechnologies by 89.9% in the 3rd quarter. SG Americas Securities LLC now owns 41,145 shares of the company's stock worth $211,000 after buying an additional 19,478 shares during the last quarter. 99.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Adaptive Biotechnologies Stock Performance

NASDAQ ADPT traded down $0.16 during trading on Monday, hitting $7.68. 1,897,096 shares of the company's stock traded hands, compared to its average volume of 1,518,304. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -5.73 and a beta of 1.50. The business has a 50 day moving average of $6.84 and a 200-day moving average of $5.53. Adaptive Biotechnologies Co. has a 12-month low of $2.28 and a 12-month high of $8.33.

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.