B. Riley Wealth Advisors Inc. Raises Stock Holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

B. Riley Wealth Advisors Inc. increased its position in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 48.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,000 shares of the company’s stock after acquiring 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 quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Adaptive Biotechnologies by 12.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company’s stock worth $39,597,000 after purchasing an additional 834,253 shares in the last quarter. Millrace Asset Group Inc. purchased a new stake in Adaptive Biotechnologies in the 3rd quarter worth $1,396,000. Point72 Asset Management L.P. purchased a new stake in Adaptive Biotechnologies in the 3rd quarter worth $2,537,000. Rubric Capital Management LP raised its holdings in Adaptive Biotechnologies by 2.9% during the third quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company’s stock valued at $73,728,000 after acquiring an additional 400,000 shares during the period. Finally, Millennium Management LLC lifted its position in shares of 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 in the last quarter. Institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Trading Up 6.5 %

Shares of Adaptive Biotechnologies stock opened at $6.39 on Monday. Adaptive Biotechnologies Co. has a 12 month low of $2.28 and a 12 month high of $7.07. The stock has a 50 day moving average of $5.50 and a 200 day moving average of $4.68. The firm has a market cap of $943.03 million, a PE ratio of -4.77 and a beta of 1.49.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. BTIG Research lifted their target price on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler boosted their target price on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday, November 11th.

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.