Adaptive Biotechnologies (NASDAQ:ADPT) Stock Price Up 17.6% – Should You Buy?

Adaptive Biotechnologies Co. (NASDAQ:ADPT) shot up 17.6% on Wednesday . The stock traded as high as $7.18 and last traded at $7.14. 382,689 shares were traded during mid-day trading, a decline of 73% from the average session volume of 1,393,907 shares. The stock had previously closed at $6.07.

Analyst Upgrades and Downgrades

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

Adaptive Biotechnologies Stock Up 15.5 %

The company has a 50 day simple moving average of $6.05 and a 200-day simple moving average of $5.06. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -5.23 and a beta of 1.47.

Hedge Funds Weigh In On Adaptive Biotechnologies

Large investors have recently added to or reduced their stakes in the company. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Adaptive Biotechnologies during the third quarter worth $26,000. Ashton Thomas Securities LLC bought a new position in Adaptive Biotechnologies in the third quarter worth about $34,000. MQS Management LLC bought a new position in shares of Adaptive Biotechnologies during the second quarter valued at approximately $36,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Adaptive Biotechnologies during the 2nd quarter worth approximately $49,000. Finally, Townsquare Capital LLC bought a new position in Adaptive Biotechnologies during the 3rd quarter worth $56,000. 99.17% of the stock is currently owned by institutional investors.

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.