Clearline Capital LP Acquires New Stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Clearline Capital LP bought a new stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 614,593 shares of the company’s stock, valued at approximately $3,147,000.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Adaptive Biotechnologies by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 12,869,818 shares of the company’s stock worth $41,312,000 after buying an additional 102,134 shares during the period. Tidal Investments LLC purchased a new stake in Adaptive Biotechnologies during the 1st quarter worth about $120,000. SG Americas Securities LLC acquired a new stake in Adaptive Biotechnologies in the 2nd quarter valued at about $78,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Adaptive Biotechnologies by 11.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,899,631 shares of the company’s stock valued at $24,977,000 after buying an additional 722,924 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Adaptive Biotechnologies by 769.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company’s stock valued at $48,000 after buying an additional 11,852 shares during the period. 99.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADPT has been the subject of a number of analyst reports. BTIG Research boosted their target price on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Piper Sandler boosted their price objective on shares of 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 Stock Up 3.7 %

Shares of Adaptive Biotechnologies stock opened at $5.94 on Monday. The firm has a market cap of $876.63 million, a price-to-earnings ratio of -4.43 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’s 50-day simple moving average is $5.07 and its 200-day simple moving average is $4.39.

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.