Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $7.19 and last traded at $7.07, with a volume of 661045 shares traded. The stock had previously closed at $6.19.
Wall Street Analyst Weigh In
A number of analysts have weighed in on ADPT shares. Piper Sandler raised their price objective on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an "overweight" rating in a research note on Monday, November 11th. BTIG Research raised their price target 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.
Check Out Our Latest Stock Analysis on Adaptive Biotechnologies
Adaptive Biotechnologies Stock Performance
The stock has a 50-day simple moving average of $5.77 and a two-hundred day simple moving average of $4.84. The firm has a market cap of $1.06 billion, a PE ratio of -5.37 and a beta of 1.49.
Institutional Investors Weigh In On Adaptive Biotechnologies
A number of hedge funds have recently added to or reduced their stakes in ADPT. Millennium Management LLC grew its stake in shares of Adaptive Biotechnologies by 1,008.3% during the 2nd quarter. Millennium Management LLC now owns 9,262,341 shares of the company's stock valued at $33,530,000 after purchasing an additional 8,426,580 shares during the period. Rubric Capital Management LP boosted its holdings in shares of Adaptive Biotechnologies by 33.3% in the second quarter. Rubric Capital Management LP now owns 14,000,000 shares of the company's stock worth $50,680,000 after buying an additional 3,500,000 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Adaptive Biotechnologies by 50.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,912,027 shares of the company's stock valued at $14,162,000 after buying an additional 1,319,709 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Adaptive Biotechnologies by 12.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company's stock valued at $39,597,000 after buying an additional 834,253 shares during the last quarter. Finally, Clearline Capital LP bought a new position in Adaptive Biotechnologies in the third quarter worth approximately $3,147,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.
Adaptive Biotechnologies Company Profile
(
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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.
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