Sumitomo Mitsui Trust Group Inc. Boosts Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Sumitomo Mitsui Trust Group Inc. boosted its position in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 12.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,733,884 shares of the company's stock after purchasing an additional 834,253 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 5.24% of Adaptive Biotechnologies worth $39,597,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. JTC Employer Solutions Trustee Ltd purchased a new position in shares of Adaptive Biotechnologies in the third quarter valued at $26,000. Ashton Thomas Securities LLC acquired a new position in Adaptive Biotechnologies during the third quarter worth about $34,000. MQS Management LLC acquired a new position in Adaptive Biotechnologies during the second quarter worth about $36,000. Rothschild Investment LLC purchased a new stake in shares of Adaptive Biotechnologies in the second quarter valued at about $36,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Adaptive Biotechnologies by 769.6% in the second quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company's stock valued at $48,000 after purchasing an additional 11,852 shares during the last quarter. 99.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADPT has been the subject of several research reports. BTIG Research lifted their price objective on Adaptive Biotechnologies from $7.00 to $8.00 and gave the stock a "buy" rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. upped their price objective on Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. Finally, Piper Sandler lifted their price objective on Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an "overweight" rating in a research report on Monday, November 11th.

Adaptive Biotechnologies Trading Down 9.0 %

Shares of Adaptive Biotechnologies stock traded down $0.50 during trading hours on Friday, reaching $5.08. 1,462,134 shares of the company's stock were exchanged, compared to its average volume of 1,406,717. The firm has a market capitalization of $749.71 million, a price-to-earnings ratio of -3.79 and a beta of 1.45. Adaptive Biotechnologies Co. has a 52-week low of $2.28 and a 52-week high of $6.70. The company has a fifty day moving average of $4.95 and a 200-day moving average of $4.26.

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.