Massachusetts Financial Services Co. MA Trims Holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Massachusetts Financial Services Co. MA trimmed its stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 26.3% during the third quarter, HoldingsChannel.com reports. The firm owned 2,881,364 shares of the company’s stock after selling 1,030,663 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Adaptive Biotechnologies were worth $14,753,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in ADPT. Intech Investment Management LLC bought a new stake in shares of Adaptive Biotechnologies during the third quarter valued at about $176,000. Jennison Associates LLC increased its holdings in Adaptive Biotechnologies by 30.3% during the 3rd quarter. Jennison Associates LLC now owns 231,531 shares of the company’s stock worth $1,185,000 after acquiring an additional 53,908 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in Adaptive Biotechnologies by 12.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company’s stock worth $39,597,000 after purchasing an additional 834,253 shares in the last quarter. GSA Capital Partners LLP bought a new position in Adaptive Biotechnologies in the 3rd quarter valued at $247,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Adaptive Biotechnologies during the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Analyst Upgrades and Downgrades

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

Adaptive Biotechnologies Stock Up 1.8 %

Shares of ADPT stock opened at $5.68 on Wednesday. The business has a 50-day moving average price of $4.98 and a two-hundred day moving average price of $4.33. Adaptive Biotechnologies Co. has a 12-month low of $2.28 and a 12-month high of $6.70. The firm has a market cap of $838.25 million, a P/E ratio of -4.24 and a beta of 1.45.

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.