Clearline Capital LP Makes New $3.15 Million Investment in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Clearline Capital LP bought a new stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 614,593 shares of the company’s stock, valued at approximately $3,147,000. Clearline Capital LP owned 0.42% of Adaptive Biotechnologies as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. JTC Employer Solutions Trustee Ltd purchased a new stake in Adaptive Biotechnologies during the 3rd quarter valued at about $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Adaptive Biotechnologies during the 3rd quarter worth approximately $34,000. Rothschild Investment LLC purchased a new stake in shares of Adaptive Biotechnologies in the second quarter valued at approximately $36,000. MQS Management LLC acquired a new stake in shares of Adaptive Biotechnologies in the second quarter valued at approximately $36,000. Finally, Nisa Investment Advisors LLC lifted 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 buying an additional 11,852 shares in the last quarter. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on ADPT. BTIG Research upped 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. Piper Sandler boosted their price target on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an “overweight” rating in a research report on Monday, November 11th.

Adaptive Biotechnologies Stock Performance

ADPT opened at $5.94 on Monday. The stock has a market capitalization of $876.63 million, a PE ratio of -4.43 and a beta of 1.45. Adaptive Biotechnologies Co. has a one year low of $2.28 and a one year high of $6.70. The business’s 50 day moving average price is $5.07 and its 200 day moving average price 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.