Verition Fund Management LLC Reduces Stake in Adaptive Biotechnologies

On December 16, 2024, it was reported that Verition Fund Management LLC has reduced its stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 26.4% during the third quarter of the year. After selling 15,392 shares, the institutional investor now holds 42,965 shares of the company's stock. The value of Verition Fund Management's holdings in Adaptive Biotechnologies amounted to approximately $220,000 at the conclusion of the most recent reporting period.

Other institutional investors have also adjusted their positions in Adaptive Biotechnologies. For instance, Rubric Capital Management LP increased its holdings by 2.9% in the third quarter, bringing its total to 14,400,000 shares valued at $73.73 million, after acquiring an additional 400,000 shares. Townsquare Capital LLC made a new investment in Adaptive Biotechnologies during the same period, with a stake valued at about $56,000. Meanwhile, BNP Paribas Financial Markets significantly raised its position by 442.0%, owning now 55,820 shares worth $286,000 following an additional purchase of 45,521 shares. Millrace Asset Group Inc. also established a new position in Adaptive Biotechnologies, valued at approximately $1.4 million. Lastly, FMR LLC doubled its holdings in the company, reaching a total of 233,566 shares valued at $1.196 million after an additional 117,965 shares were acquired.

Adaptive Biotechnologies Stock Overview

As of Monday, Adaptive Biotechnologies' stock opened at $6.30, bringing its market capitalization to $929.75 million. The company has a price-to-earnings ratio of -4.70 and a beta of 1.49. Its 50-day moving average is $5.37, while the 200-day moving average stands at $4.59. Over the past year, Adaptive Biotechnologies has experienced a low of $2.28 and a high of $7.07.

Analysts’ Perspectives on Future Growth

Several analysts have recently updated their positions regarding Adaptive Biotechnologies. BTIG Research raised their price target for the company from $7.00 to $8.00 and assigned a “buy” rating on October 2nd. Meanwhile, Piper Sandler increased its price target from $6.00 to $7.00, giving the stock an “overweight” rating on November 11th.

About Adaptive Biotechnologies

Adaptive Biotechnologies Corporation is a commercial-stage company focused on developing an immune medicine platform that aids in the diagnosis and treatment of various diseases. The corporation's proprietary immunosequencing platform combines chemistry, computational biology, and machine learning to create clinical immunomics data for analyzing the adaptive immune system.

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