KBC Group NV Buys New Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

KBC Group NV purchased a new position in Adaptive Biotechnologies Co. (NASDAQ:ADPT) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 8,378 shares of the company’s stock, valued at approximately $50,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Rubric Capital Management LP boosted its stake in shares of Adaptive Biotechnologies by 2.9% during the 3rd quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company’s stock worth $73,728,000 after acquiring an additional 400,000 shares in the last quarter. ARK Investment Management LLC lifted its holdings in shares of Adaptive Biotechnologies by 1.7% during the third quarter. ARK Investment Management LLC now owns 11,601,134 shares of the company’s stock valued at $59,398,000 after purchasing an additional 189,134 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of 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 purchasing an additional 834,253 shares during the period. State Street Corp increased its stake in Adaptive Biotechnologies by 2.0% in the 3rd quarter. State Street Corp now owns 2,551,785 shares of the company’s stock worth $13,065,000 after purchasing an additional 48,885 shares in the last quarter. Finally, Pier Capital LLC raised its holdings in Adaptive Biotechnologies by 20.9% during the 3rd quarter. Pier Capital LLC now owns 1,275,885 shares of the company’s stock worth $6,533,000 after buying an additional 220,586 shares during the period. 99.17% of the stock is owned by institutional investors and hedge funds.

Adaptive Biotechnologies Price Performance

NASDAQ:ADPT opened at $7.68 on Tuesday. The stock has a market cap of $1.13 billion, a PE ratio of -5.73 and a beta of 1.50. Adaptive Biotechnologies Co. has a fifty-two week low of $2.28 and a fifty-two week high of $8.33. The stock’s 50-day moving average is $6.84 and its two-hundred day moving average is $5.53.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. The Goldman Sachs Group raised their target price on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. BTIG Research raised their price objective 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. Finally, Piper Sandler lifted their price objective on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th.

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.