Millrace Asset Group Inc. Acquires New Shares in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Millrace Asset Group Inc. acquired a new position in Adaptive Biotechnologies Co. (NASDAQ:ADPT) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 272,681 shares of the company’s stock, valued at approximately $1,396,000. Millrace Asset Group Inc. owned approximately 0.18% of Adaptive Biotechnologies as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of ADPT. JTC Employer Solutions Trustee Ltd bought a new stake in shares of Adaptive Biotechnologies in the third quarter worth approximately $26,000. Ashton Thomas Securities LLC purchased a new stake in Adaptive Biotechnologies in the third quarter worth approximately $34,000. MQS Management LLC bought a new stake in Adaptive Biotechnologies in the 2nd quarter worth approximately $36,000. Rothschild Investment LLC purchased a new stake in Adaptive Biotechnologies during the 2nd quarter valued at $36,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Adaptive Biotechnologies by 769.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company’s stock valued at $48,000 after buying an additional 11,852 shares during the period. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Stock Performance

NASDAQ ADPT opened at $5.58 on Tuesday. The business’s fifty day moving average is $4.98 and its 200 day moving average is $4.33. Adaptive Biotechnologies Co. has a fifty-two week low of $2.28 and a fifty-two week high of $6.70. The company has a market capitalization of $823.50 million, a PE ratio of -4.16 and a beta of 1.45.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ADPT. 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. Piper Sandler upped 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. Finally, 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.

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.