Adaptive Biotechnologies Co. (NASDAQ:ADPT) Shares Purchased by Rubric Capital Management LP

Rubric Capital Management LP grew its holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,400,000 shares of the company’s stock after buying an additional 400,000 shares during the quarter. Adaptive Biotechnologies comprises 1.2% of Rubric Capital Management LP’s investment portfolio, making the stock its 19th biggest holding. Rubric Capital Management LP owned 9.76% of Adaptive Biotechnologies worth $73,728,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ADPT. JTC Employer Solutions Trustee Ltd purchased a new position in Adaptive Biotechnologies in the third quarter valued at about $26,000. Ashton Thomas Securities LLC purchased a new stake in Adaptive Biotechnologies during the third quarter worth $34,000. Rothschild Investment LLC acquired a new stake in Adaptive Biotechnologies in the second quarter valued at $36,000. MQS Management LLC acquired a new position in shares of Adaptive Biotechnologies during the 2nd quarter worth $36,000. Finally, Nisa Investment Advisors LLC grew its stake in 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 acquiring an additional 11,852 shares during the last quarter. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. BTIG Research raised their price objective 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. JPMorgan Chase & Co. upped their price objective on Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Piper Sandler increased their price objective on Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an “overweight” rating in a research note on Monday, November 11th.

Adaptive Biotechnologies Stock Performance

Adaptive Biotechnologies stock opened at $5.68 on Wednesday. Adaptive Biotechnologies Co. has a 1 year low of $2.28 and a 1 year high of $6.70. The firm has a 50 day moving average price of $5.00 and a 200 day moving average price of $4.35. The company has a market cap of $838.25 million, a price-to-earnings ratio of -4.24 and a beta of 1.45.

Adaptive Biotechnologies 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.