B. Riley Wealth Advisors Inc. Acquires 6,500 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

B. Riley Wealth Advisors Inc. grew its holdings in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 48.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,000 shares of the company’s stock after buying an additional 6,500 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Adaptive Biotechnologies were worth $102,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADPT. Millennium Management LLC lifted its stake in shares of Adaptive Biotechnologies by 1,008.3% in the 2nd quarter. Millennium Management LLC now owns 9,262,341 shares of the company’s stock valued at $33,530,000 after purchasing an additional 8,426,580 shares during the last quarter. Rubric Capital Management LP lifted its position in Adaptive Biotechnologies by 33.3% in the second quarter. Rubric Capital Management LP now owns 14,000,000 shares of the company’s stock worth $50,680,000 after buying an additional 3,500,000 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Adaptive Biotechnologies by 50.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,912,027 shares of the company’s stock worth $14,162,000 after buying an additional 1,319,709 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in Adaptive Biotechnologies by 12.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company’s stock valued at $39,597,000 after acquiring an additional 834,253 shares during the last quarter. Finally, Clearline Capital LP purchased a new stake in shares of Adaptive Biotechnologies in the third quarter valued at $3,147,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Wall Street Analysts Forecast Growth

ADPT has been the subject of a number of recent analyst reports. BTIG Research lifted their price target on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler boosted their target price on 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 Trading Up 6.5 %

Shares of ADPT opened at $6.39 on Monday. The firm has a market capitalization of $943.03 million, a P/E ratio of -4.77 and a beta of 1.49. Adaptive Biotechnologies Co. has a 12-month low of $2.28 and a 12-month high of $7.07. The firm has a fifty day moving average price of $5.50 and a 200-day moving average price of $4.68.

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.