Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report) dropped 4.6% during mid-day trading on Tuesday . The company traded as low as $7.34 and last traded at $7.35. Approximately 466,205 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 1,446,631 shares. The stock had previously closed at $7.70.
Analyst Ratings Changes
ADPT has been the subject of a number of research analyst reports. BTIG Research lifted their target price on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. The Goldman Sachs Group upped their price objective on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Finally, Piper Sandler raised their target price on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an "overweight" rating in a research report on Monday, November 11th.
View Our Latest Stock Analysis on ADPT
Adaptive Biotechnologies Stock Performance
The business has a 50 day moving average of $6.84 and a two-hundred day moving average of $5.51. The stock has a market capitalization of $1.16 billion, a PE ratio of -5.85 and a beta of 1.50.
Hedge Funds Weigh In On Adaptive Biotechnologies
A number of large investors have recently made changes to their positions in the business. Barclays PLC increased its position in shares of Adaptive Biotechnologies by 149.5% in the 3rd quarter. Barclays PLC now owns 230,177 shares of the company's stock valued at $1,180,000 after acquiring an additional 137,936 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position 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 purchasing an additional 834,253 shares during the period. Millrace Asset Group Inc. purchased a new stake in shares of Adaptive Biotechnologies in the third quarter worth about $1,396,000. Point72 Asset Management L.P. acquired a new position in Adaptive Biotechnologies in the third quarter valued at approximately $2,537,000. Finally, Rubric Capital Management LP grew its stake in shares of Adaptive Biotechnologies by 2.9% during the 3rd quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company's stock worth $73,728,000 after purchasing an additional 400,000 shares during the period. 99.17% of the stock is owned by institutional investors and hedge funds.
Adaptive Biotechnologies Company Profile
(
Get Free Report)
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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