Adaptive Biotechnologies (NASDAQ:ADPT) Trading 7.1% Higher – Should You Buy?

Adaptive Biotechnologies Co. (NASDAQ:ADPT)’s stock price shot up 7.1% during mid-day trading on Tuesday . The stock traded as high as $7.26 and last traded at $7.29. 99,618 shares were traded during trading, a decline of 93% from the average session volume of 1,512,606 shares. The stock had previously closed at $6.81.

Analyst Ratings Changes

ADPT has been the topic of a number of research analyst reports. Piper Sandler upped their target price on Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. BTIG Research lifted their target price on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th.

Adaptive Biotechnologies Stock Performance

The company has a market cap of $1.09 billion, a P/E ratio of -5.49 and a beta of 1.47. The stock has a 50-day moving average of $6.13 and a two-hundred day moving average of $5.15.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of institutional investors have recently made changes to their positions in ADPT. Rhumbline Advisers grew its stake in shares of Adaptive Biotechnologies by 8.3% during the second quarter. Rhumbline Advisers now owns 188,285 shares of the company’s stock valued at $682,000 after buying an additional 14,430 shares during the last quarter. American Century Companies Inc. grew its position in Adaptive Biotechnologies by 18.3% during the 2nd quarter. American Century Companies Inc. now owns 45,562 shares of the company’s stock worth $165,000 after acquiring an additional 7,039 shares during the last quarter. Renaissance Technologies LLC increased its stake in Adaptive Biotechnologies by 188.7% in the 2nd quarter. Renaissance Technologies LLC now owns 151,800 shares of the company’s stock worth $550,000 after purchasing an additional 99,217 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Adaptive Biotechnologies during the second quarter valued at approximately $81,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Adaptive Biotechnologies in the second quarter worth approximately $98,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

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.