Townsquare Capital LLC Takes Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Townsquare Capital LLC acquired a new position in Adaptive Biotechnologies Co. (NASDAQ:ADPT) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,018 shares of the company’s stock, valued at approximately $56,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Millennium Management LLC grew its stake in shares of Adaptive Biotechnologies by 1,008.3% during the second quarter. Millennium Management LLC now owns 9,262,341 shares of the company’s stock valued at $33,530,000 after buying an additional 8,426,580 shares during the last quarter. Rubric Capital Management LP grew its position in 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 last quarter. Massachusetts Financial Services Co. MA increased its stake in Adaptive Biotechnologies by 50.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,912,027 shares of the company’s stock worth $14,162,000 after purchasing an additional 1,319,709 shares during the period. ARK Investment Management LLC lifted its position in Adaptive Biotechnologies by 8.1% in the second quarter. ARK Investment Management LLC now owns 11,412,000 shares of the company’s stock valued at $41,311,000 after purchasing an additional 850,704 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Adaptive Biotechnologies by 12.1% during 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 purchasing an additional 834,253 shares during the period. 99.17% of the stock is owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Trading Up 3.3 %

Shares of Adaptive Biotechnologies stock opened at $6.27 on Monday. The company’s fifty day simple moving average is $5.25 and its two-hundred day simple moving average is $4.48. Adaptive Biotechnologies Co. has a 12-month low of $2.28 and a 12-month high of $6.70. The company has a market cap of $925.32 million, a P/E ratio of -4.68 and a beta of 1.49.

Wall Street Analysts Forecast Growth

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

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.