Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report) rose 17.6% on Wednesday . The company traded as high as $7.18 and last traded at $7.14. Approximately 382,689 shares traded hands during trading, a decline of 73% from the average daily volume of 1,393,907 shares. The stock had previously closed at $6.07.
Wall Street Analysts Forecast Growth
ADPT has been the topic of a number of recent research reports. BTIG Research raised their price objective on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Piper Sandler raised their price objective on 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 Research Report on Adaptive Biotechnologies
Adaptive Biotechnologies Stock Up 18.0 %
The business has a 50 day simple moving average of $6.07 and a 200 day simple moving average of $5.07. The company has a market capitalization of $1.06 billion, a PE ratio of -5.34 and a beta of 1.47.
Institutional Investors Weigh In On Adaptive Biotechnologies
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its stake in Adaptive Biotechnologies by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 48,834 shares of the company's stock valued at $177,000 after buying an additional 2,710 shares during the last quarter. Vontobel Holding Ltd. raised its stake in shares of Adaptive Biotechnologies by 30.8% in the third 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 purchased a new position in shares of Adaptive Biotechnologies in the third quarter worth about $26,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in shares of Adaptive Biotechnologies by 29.5% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 25,576 shares of the company's stock worth $131,000 after purchasing an additional 5,826 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of Adaptive Biotechnologies by 48.1% in the third quarter. B. Riley Wealth Advisors Inc. now owns 20,000 shares of the company's stock worth $102,000 after purchasing an additional 6,500 shares during the last quarter. 99.17% of the stock is currently owned by hedge funds and other institutional investors.
About Adaptive Biotechnologies
(
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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