Adaptive Biotechnologies (NASDAQ:ADPT) Trading 9.8% Higher – Should You Buy?

Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) traded up 9.8% on Wednesday . The company traded as high as $8.11 and last traded at $8.10. 1,182,088 shares were traded during mid-day trading, a decline of 19% from the average session volume of 1,462,168 shares. The stock had previously closed at $7.37.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ADPT. Piper Sandler raised their target price on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. BTIG Research boosted their target price on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, The Goldman Sachs Group boosted their price objective 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.

Adaptive Biotechnologies Price Performance

The stock has a 50 day moving average price of $6.71 and a two-hundred day moving average price of $5.45. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -6.00 and a beta of 1.49.

Institutional Investors Weigh In On Adaptive Biotechnologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versor Investments LP bought a new stake in Adaptive Biotechnologies during the 4th quarter worth approximately $147,000. Proficio Capital Partners LLC acquired a new position in Adaptive Biotechnologies during the fourth quarter worth approximately $93,000. Private Advisor Group LLC bought a new stake in Adaptive Biotechnologies in the fourth quarter valued at approximately $264,000. D.A. Davidson & CO. lifted its position in shares of Adaptive Biotechnologies by 8.2% in the fourth quarter. D.A. Davidson & CO. now owns 88,450 shares of the company’s stock valued at $530,000 after buying an additional 6,725 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new position in shares of Adaptive Biotechnologies during the 4th quarter worth approximately $860,000. Institutional investors 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.