Adaptive Biotechnologies Co. (NASDAQ:ADPT) Shares Sold by Matrix Capital Management Company LP

Matrix Capital Management Company LP lessened its holdings in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 94.4% during the 3rd quarter, according to its most recent disclosure with the 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 about 0.2% of Matrix Capital Management Company LP’s portfolio, making the stock its 7th largest position. Matrix Capital Management Company LP owned 0.44% of Adaptive Biotechnologies worth $3,328,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ADPT. Millennium Management LLC increased its position in Adaptive Biotechnologies by 1,008.3% during the second quarter. Millennium Management LLC now owns 9,262,341 shares of the company’s stock worth $33,530,000 after buying an additional 8,426,580 shares during the last quarter. Rubric Capital Management LP lifted its holdings 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 acquiring an additional 3,500,000 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Adaptive Biotechnologies by 50.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,912,027 shares of the company’s stock worth $14,162,000 after buying an additional 1,319,709 shares during the last quarter. ARK Investment Management LLC increased its position in Adaptive Biotechnologies by 8.1% during the 2nd quarter. ARK Investment Management LLC now owns 11,412,000 shares of the company’s stock worth $41,311,000 after purchasing an additional 850,704 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake 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 buying an additional 834,253 shares during the period. Institutional investors own 99.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ADPT. Piper Sandler upped their price target on Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. BTIG Research increased their price target on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd.

Adaptive Biotechnologies Stock Down 3.5 %

Adaptive Biotechnologies stock opened at $6.30 on Wednesday. Adaptive Biotechnologies Co. has a twelve month low of $2.28 and a twelve month high of $6.70. The stock’s 50 day moving average is $5.16 and its 200 day moving average is $4.43. The company has a market capitalization of $929.75 million, a P/E ratio of -4.70 and a beta of 1.49.

About Adaptive Biotechnologies

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.