Adaptive Biotechnologies (NASDAQ:ADPT) Trading Up 7.3% – What’s Next?

Adaptive Biotechnologies Co. (NASDAQ:ADPT)’s stock price rose 7.3% during mid-day trading on Thursday . The company traded as high as $6.45 and last traded at $6.44. Approximately 102,666 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 1,394,303 shares. The stock had previously closed at $6.00.

Analysts Set New Price Targets

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

Adaptive Biotechnologies Stock Performance

The company has a market capitalization of $1.06 billion, a P/E ratio of -5.37 and a beta of 1.49. The stock’s fifty day moving average price is $5.82 and its 200-day moving average price is $4.87.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of large investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its position in Adaptive Biotechnologies by 5.9% during the second quarter. The Manufacturers Life Insurance Company now owns 48,834 shares of the company’s stock worth $177,000 after acquiring an additional 2,710 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in Adaptive Biotechnologies by 30.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 17,000 shares of the company’s stock worth $87,000 after purchasing an additional 4,000 shares during the last quarter. JTC Employer Solutions Trustee Ltd bought a new stake in Adaptive Biotechnologies in the 3rd quarter valued at $26,000. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in Adaptive Biotechnologies by 29.5% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 25,576 shares of the company’s stock valued at $131,000 after buying an additional 5,826 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its position in Adaptive Biotechnologies by 48.1% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 20,000 shares of the company’s stock worth $102,000 after buying an additional 6,500 shares during the period. Institutional investors own 99.17% of the company’s stock.

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.