Sumitomo Mitsui Trust Group Inc. Acquires 834,253 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 12.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. JTC Employer Solutions Trustee Ltd bought a new stake in shares of Adaptive Biotechnologies during the 3rd quarter worth $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Adaptive Biotechnologies during the 3rd quarter worth $34,000. Rothschild Investment LLC bought a new stake in shares of Adaptive Biotechnologies during the 2nd quarter worth $36,000. MQS Management LLC bought a new stake in shares of Adaptive Biotechnologies during the 2nd quarter worth $36,000. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Adaptive Biotechnologies during the 1st quarter worth $46,000. 99.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Adaptive Biotechnologies from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Piper Sandler lifted 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, BTIG Research lifted their price objective on Adaptive Biotechnologies from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd.

Adaptive Biotechnologies Stock Down 9.0 %

ADPT stock opened at $5.08 on Friday. The firm has a market capitalization of $749.71 million, a PE ratio of -3.79 and a beta of 1.45. Adaptive Biotechnologies Co. has a twelve month low of $2.28 and a twelve month high of $6.70. The stock has a 50-day simple moving average of $4.95 and a two-hundred day simple moving average of $4.25.

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.