Adaptive Biotechnologies (NASDAQ:ADPT) Reaches New 1-Year High – Here’s What Happened

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ADPT. Piper Sandler boosted 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. BTIG Research increased their price target on Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd.

Adaptive Biotechnologies Stock Down 4.9 %

The business has a fifty day moving average price of $5.34 and a 200-day moving average price of $4.54. The company has a market cap of $941.56 million, a P/E ratio of -4.76 and a beta of 1.49.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADPT. JTC Employer Solutions Trustee Ltd acquired a new stake in Adaptive Biotechnologies in the 3rd quarter worth about $26,000. Ashton Thomas Securities LLC bought a new position in shares of Adaptive Biotechnologies in the third quarter worth $34,000. MQS Management LLC acquired a new position in Adaptive Biotechnologies in the second quarter valued at about $36,000. Rothschild Investment LLC bought a new stake in Adaptive Biotechnologies during the second quarter worth about $36,000. Finally, Townsquare Capital LLC bought a new stake in Adaptive Biotechnologies during the third quarter worth about $56,000. 99.17% of the stock is owned by institutional investors and hedge funds.

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.