Massachusetts Financial Services Co. MA Has $14.75 Million Stock Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Massachusetts Financial Services Co. MA decreased its stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 26.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,881,364 shares of the company's stock after selling 1,030,663 shares during the period. Massachusetts Financial Services Co. MA owned 1.95% of Adaptive Biotechnologies worth $14,753,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rubric Capital Management LP grew its position in shares of Adaptive Biotechnologies by 33.3% during the 2nd quarter. Rubric Capital Management LP now owns 14,000,000 shares of the company's stock worth $50,680,000 after buying an additional 3,500,000 shares during the period. Vanguard Group Inc. lifted its position in Adaptive Biotechnologies by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 12,869,818 shares of the company's stock worth $41,312,000 after buying an additional 102,134 shares in the last quarter. ARK Investment Management LLC boosted its stake in shares of Adaptive Biotechnologies by 1.7% during the 3rd quarter. ARK Investment Management LLC now owns 11,601,134 shares of the company's stock worth $59,398,000 after buying an additional 189,134 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Adaptive Biotechnologies by 1,008.3% in the 2nd quarter. Millennium Management LLC now owns 9,262,341 shares of the company's stock valued at $33,530,000 after acquiring an additional 8,426,580 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Adaptive Biotechnologies by 12.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company's stock valued at $39,597,000 after acquiring an additional 834,253 shares during the last quarter. Institutional investors and hedge funds own 99.17% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ADPT. Piper Sandler lifted their price objective on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an "overweight" rating in a research report on Monday, November 11th. BTIG Research upped their price objective on Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a "buy" rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lifted their target price on Adaptive Biotechnologies from $5.00 to $6.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd.

Adaptive Biotechnologies Stock Performance

ADPT traded up $0.05 on Wednesday, reaching $5.73. The company had a trading volume of 998,633 shares, compared to its average volume of 1,425,392. Adaptive Biotechnologies Co. has a fifty-two week low of $2.28 and a fifty-two week high of $6.70. The company's fifty day moving average is $5.00 and its 200 day moving average is $4.35. The stock has a market cap of $845.63 million, a P/E ratio of -4.24 and a beta of 1.45.

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.