Jennison Associates LLC Grows Stock Holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Jennison Associates LLC grew its holdings in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 30.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 231,531 shares of the company’s stock after purchasing an additional 53,908 shares during the quarter. Jennison Associates LLC owned approximately 0.16% of Adaptive Biotechnologies worth $1,185,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. JTC Employer Solutions Trustee Ltd purchased a new position in Adaptive Biotechnologies during the third quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new position in shares of Adaptive Biotechnologies during the 3rd quarter worth about $34,000. Rothschild Investment LLC acquired a new stake in shares of Adaptive Biotechnologies in the second quarter worth approximately $36,000. MQS Management LLC purchased a new stake in Adaptive Biotechnologies in the second quarter valued at approximately $36,000. Finally, Nisa Investment Advisors LLC increased its position in Adaptive Biotechnologies by 769.6% during the second quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company’s stock worth $48,000 after purchasing an additional 11,852 shares during the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

Adaptive Biotechnologies Stock Up 7.3 %

Adaptive Biotechnologies stock opened at $4.69 on Friday. The firm has a fifty day moving average of $4.96 and a 200-day moving average of $4.30. Adaptive Biotechnologies Co. has a 52-week low of $2.28 and a 52-week high of $6.70. The firm has a market capitalization of $692.15 million, a P/E ratio of -3.50 and a beta of 1.45.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ADPT. Piper Sandler lifted their price target on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an “overweight” rating in a report on Monday, November 11th. BTIG Research lifted their target price on Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. upped their price target on Adaptive Biotechnologies from $5.00 to $6.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd.

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.