Millrace Asset Group Inc. Takes $1.40 Million Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Millrace Asset Group Inc. acquired a new stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 272,681 shares of the company's stock, valued at approximately $1,396,000. Millrace Asset Group Inc. owned about 0.18% of Adaptive Biotechnologies at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ADPT. FMR LLC grew its position in shares of Adaptive Biotechnologies by 102.0% in the third quarter. FMR LLC now owns 233,566 shares of the company's stock valued at $1,196,000 after purchasing an additional 117,965 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Adaptive Biotechnologies in the 3rd quarter worth about $177,000. Cerity Partners LLC grew its holdings in Adaptive Biotechnologies by 58.7% in the 3rd quarter. Cerity Partners LLC now owns 694,417 shares of the company's stock valued at $3,555,000 after buying an additional 256,933 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Adaptive Biotechnologies by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 916,743 shares of the company's stock valued at $4,694,000 after acquiring an additional 10,262 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Adaptive Biotechnologies during the 3rd quarter worth about $176,000. Hedge funds and other institutional investors own 99.17% of the company's stock.

Adaptive Biotechnologies Price Performance

ADPT stock traded up $0.10 during midday trading on Tuesday, reaching $5.68. 1,702,214 shares of the company's stock traded hands, compared to its average volume of 1,427,254. Adaptive Biotechnologies Co. has a fifty-two week low of $2.28 and a fifty-two week high of $6.70. The business has a 50-day moving average price of $4.98 and a two-hundred day moving average price of $4.33. The company has a market capitalization of $838.25 million, a P/E ratio of -4.35 and a beta of 1.45.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ADPT. BTIG Research upped their price target 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. Piper Sandler upped 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. Finally, JPMorgan Chase & Co. lifted their target price on Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an "overweight" rating in a report on Friday, August 2nd.

Adaptive Biotechnologies Company 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.