Adaptive Biotechnologies (NASDAQ:ADPT) Trading Up 7.1% – Here’s Why

Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) traded up 7.1% on Tuesday . The stock traded as high as $7.26 and last traded at $7.29. 99,618 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 1,512,606 shares. The stock had previously closed at $6.81.

Analyst Ratings Changes

Several brokerages recently weighed in on ADPT. BTIG Research raised their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Piper Sandler lifted their price target on 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 Price Performance

The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -6.07 and a beta of 1.47. The firm has a 50 day simple moving average of $6.20 and a 200-day simple moving average of $5.20.

Hedge Funds Weigh In On Adaptive Biotechnologies

Institutional investors and hedge funds have recently made changes to their positions in the company. JTC Employer Solutions Trustee Ltd bought a new stake in shares of Adaptive Biotechnologies in the third quarter worth about $26,000. Ashton Thomas Securities LLC acquired a new stake in Adaptive Biotechnologies in the 3rd quarter valued at approximately $34,000. B. Riley Wealth Advisors Inc. bought a new stake in Adaptive Biotechnologies in the 2nd quarter valued at approximately $49,000. KBC Group NV bought a new position in shares of Adaptive Biotechnologies during the 4th quarter worth approximately $50,000. Finally, Townsquare Capital LLC bought a new stake in shares of Adaptive Biotechnologies in the third quarter worth $56,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

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.