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

Jennison Associates LLC increased its position in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 30.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 231,531 shares of the company’s stock after buying an additional 53,908 shares during the quarter. Jennison Associates LLC’s holdings in Adaptive Biotechnologies were worth $1,185,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. boosted its position 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 valued at $39,597,000 after buying an additional 834,253 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Adaptive Biotechnologies in the third quarter valued at about $247,000. Ashton Thomas Securities LLC acquired a new stake in Adaptive Biotechnologies during the 3rd quarter valued at approximately $34,000. ARK Investment Management LLC increased its holdings in Adaptive Biotechnologies by 1.7% during the 3rd quarter. ARK Investment Management LLC now owns 11,601,134 shares of the company’s stock worth $59,398,000 after purchasing an additional 189,134 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Adaptive Biotechnologies by 77.2% in the 3rd quarter. US Bancorp DE now owns 163,106 shares of the company’s stock valued at $835,000 after purchasing an additional 71,065 shares in the last quarter. 99.17% of the stock is owned by institutional investors and hedge funds.

Adaptive Biotechnologies Stock Performance

NASDAQ ADPT opened at $4.69 on Friday. Adaptive Biotechnologies Co. has a one year low of $2.28 and a one year high of $6.70. The company has a 50-day simple moving average of $4.96 and a 200-day simple moving average of $4.30. The firm has a market capitalization of $692.15 million, a PE ratio of -3.50 and a beta of 1.45.

Wall Street Analyst Weigh In

Several research analysts have 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 report on Wednesday, October 2nd. Piper Sandler lifted their price target on Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, 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 note on Friday, August 2nd.

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.