Bouvel Investment Partners LLC Has $225,000 Stock Holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Bouvel Investment Partners LLC trimmed its position in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 4.4% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 43,882 shares of the company’s stock after selling 1,998 shares during the period. Bouvel Investment Partners LLC’s holdings in Adaptive Biotechnologies were worth $225,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADPT. Millennium Management LLC boosted its holdings in Adaptive Biotechnologies by 1,008.3% in the second quarter. Millennium Management LLC now owns 9,262,341 shares of the company’s stock valued at $33,530,000 after acquiring an additional 8,426,580 shares during the last quarter. Rubric Capital Management LP lifted its position in Adaptive Biotechnologies by 33.3% during the 2nd quarter. Rubric Capital Management LP now owns 14,000,000 shares of the company’s stock valued at $50,680,000 after purchasing an additional 3,500,000 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Adaptive Biotechnologies by 50.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,912,027 shares of the company’s stock valued at $14,162,000 after purchasing an additional 1,319,709 shares during the last quarter. ARK Investment Management LLC grew its position in shares of Adaptive Biotechnologies by 8.1% during the 2nd quarter. ARK Investment Management LLC now owns 11,412,000 shares of the company’s stock worth $41,311,000 after buying an additional 850,704 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of 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 worth $39,597,000 after buying an additional 834,253 shares during the last quarter. 99.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Adaptive Biotechnologies Price Performance

Adaptive Biotechnologies stock opened at $5.85 on Thursday. Adaptive Biotechnologies Co. has a fifty-two week low of $2.28 and a fifty-two week high of $6.70. The firm has a market capitalization of $863.34 million, a price-to-earnings ratio of -4.37 and a beta of 1.45. The company’s 50 day simple moving average is $4.91 and its 200 day simple moving average is $4.22.

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.