Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report)'s share price was up 9.8% during trading on Wednesday . The stock traded as high as $8.11 and last traded at $8.10. Approximately 1,182,088 shares changed hands during trading, a decline of 19% from the average daily volume of 1,462,168 shares. The stock had previously closed at $7.37.
Wall Street Analyst Weigh In
A number of research firms have commented on ADPT. BTIG Research boosted their price target on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. The Goldman Sachs Group boosted their target price on Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Finally, Piper Sandler increased their price target on Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an "overweight" rating in a research note on Monday, November 11th.
Check Out Our Latest Stock Analysis on ADPT
Adaptive Biotechnologies Stock Performance
The company has a market cap of $1.16 billion, a price-to-earnings ratio of -5.85 and a beta of 1.50. The company's 50 day moving average price is $6.84 and its 200-day moving average price is $5.53.
Institutional Investors Weigh In On Adaptive Biotechnologies
Several hedge funds have recently modified their holdings of ADPT. Barclays PLC lifted its stake in Adaptive Biotechnologies by 149.5% during the third quarter. Barclays PLC now owns 230,177 shares of the company's stock valued at $1,180,000 after buying an additional 137,936 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of 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 acquiring an additional 834,253 shares during the period. Millrace Asset Group Inc. acquired a new position in Adaptive Biotechnologies in the 3rd quarter worth approximately $1,396,000. Point72 Asset Management L.P. purchased a new position in Adaptive Biotechnologies during the 3rd quarter worth approximately $2,537,000. Finally, Rubric Capital Management LP raised its stake in Adaptive Biotechnologies by 2.9% during the 3rd quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company's stock valued at $73,728,000 after purchasing an additional 400,000 shares during the period. 99.17% of the stock is owned by hedge funds and other institutional investors.
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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