Adaptive Biotechnologies (NASDAQ:ADPT) Hits New 1-Year High – Still a Buy?

Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) reached a new 52-week high on Tuesday . The company traded as high as $6.71 and last traded at $6.71, with a volume of 172281 shares changing hands. The stock had previously closed at $6.44.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. 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 report on Monday, November 11th. BTIG Research raised their target price on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd.

Adaptive Biotechnologies Stock Up 2.8 %

The firm’s 50 day simple moving average is $5.28 and its 200 day simple moving average is $4.51. The company has a market capitalization of $976.98 million, a PE ratio of -5.25 and a beta of 1.49.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ADPT. The Manufacturers Life Insurance Company boosted its stake in shares of Adaptive Biotechnologies by 5.9% during the second quarter. The Manufacturers Life Insurance Company now owns 48,834 shares of the company’s stock valued at $177,000 after purchasing an additional 2,710 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of Adaptive Biotechnologies by 30.8% during the third quarter. Vontobel Holding Ltd. now owns 17,000 shares of the company’s stock valued at $87,000 after purchasing an additional 4,000 shares during the period. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of Adaptive Biotechnologies during the third quarter valued at $26,000. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of Adaptive Biotechnologies by 29.5% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 25,576 shares of the company’s stock valued at $131,000 after purchasing an additional 5,826 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Adaptive Biotechnologies during the third quarter valued at $34,000. 99.17% of the stock is owned by hedge funds and other institutional investors.

About Adaptive Biotechnologies

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.