Adaptive Biotechnologies (NASDAQ:ADPT) Trading 7.2% Higher – Still a Buy?

Adaptive Biotechnologies Co. (NASDAQ:ADPT)’s stock price traded up 7.2% during mid-day trading on Monday . The company traded as high as $6.40 and last traded at $6.37. 408,412 shares were traded during trading, a decline of 71% from the average session volume of 1,417,168 shares. The stock had previously closed at $5.94.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. BTIG Research boosted their price objective on Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Piper Sandler boosted their price target on Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday, November 11th.

Adaptive Biotechnologies Stock Performance

The firm has a market capitalization of $956.32 million, a PE ratio of -4.75 and a beta of 1.45. The company has a fifty day moving average price of $5.07 and a 200-day moving average price of $4.39.

Institutional Trading of Adaptive Biotechnologies

Several hedge funds have recently modified their holdings of ADPT. Vanguard Group Inc. raised its holdings in shares of Adaptive Biotechnologies by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 12,869,818 shares of the company’s stock worth $41,312,000 after acquiring an additional 102,134 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of Adaptive Biotechnologies during the 1st quarter worth approximately $120,000. SG Americas Securities LLC purchased a new stake in Adaptive Biotechnologies during the 2nd quarter valued at $78,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Adaptive Biotechnologies by 11.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,899,631 shares of the company’s stock valued at $24,977,000 after buying an additional 722,924 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in Adaptive Biotechnologies by 769.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company’s stock valued at $48,000 after buying an additional 11,852 shares during the period. 99.17% of the stock is owned by hedge funds and other 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.