Verition Fund Management LLC Sells 15,392 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Verition Fund Management LLC lessened its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 26.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 42,965 shares of the company’s stock after selling 15,392 shares during the quarter. Verition Fund Management LLC’s holdings in Adaptive Biotechnologies were worth $220,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Rubric Capital Management LP grew its holdings in shares of Adaptive Biotechnologies by 2.9% in the third quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company’s stock valued at $73,728,000 after purchasing an additional 400,000 shares in the last quarter. Townsquare Capital LLC bought a new stake in shares of Adaptive Biotechnologies in the 3rd quarter worth about $56,000. BNP Paribas Financial Markets raised its position in shares of Adaptive Biotechnologies by 442.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 55,820 shares of the company’s stock valued at $286,000 after buying an additional 45,521 shares in the last quarter. Millrace Asset Group Inc. bought a new position in shares of Adaptive Biotechnologies in the 3rd quarter valued at about $1,396,000. Finally, FMR LLC grew its position in Adaptive Biotechnologies by 102.0% in the third quarter. FMR LLC now owns 233,566 shares of the company’s stock worth $1,196,000 after acquiring an additional 117,965 shares in the last quarter. Institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Price Performance

Adaptive Biotechnologies stock opened at $6.30 on Monday. The stock has a market cap of $929.75 million, a price-to-earnings ratio of -4.70 and a beta of 1.49. The firm has a 50-day moving average of $5.37 and a two-hundred day moving average of $4.59. Adaptive Biotechnologies Co. has a 1 year low of $2.28 and a 1 year high of $7.07.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. BTIG Research upped their price objective on Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Piper Sandler lifted their price objective on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a research note 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.