Adaptive Biotechnologies (NASDAQ:ADPT) Hits New 1-Year High – Here’s What Happened

Adaptive Biotechnologies Co. (NASDAQ:ADPT) reached a new 52-week high during trading on Wednesday . The stock traded as high as $5.80 and last traded at $5.66, with a volume of 103179 shares. The stock had previously closed at $5.58.

Analyst Ratings Changes

Several equities research analysts recently commented on ADPT shares. BTIG Research raised their target price on Adaptive Biotechnologies from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. increased their price target on Adaptive Biotechnologies from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.25.

Adaptive Biotechnologies Stock Up 3.0 %

The company has a market capitalization of $847.96 million, a PE ratio of -3.80 and a beta of 1.45. The stock has a 50-day moving average of $4.74 and a 200 day moving average of $4.09.

Institutional Trading of Adaptive Biotechnologies

A number of large investors have recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Adaptive Biotechnologies by 12.1% in 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 in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Adaptive Biotechnologies in the third quarter valued at $247,000. Ashton Thomas Securities LLC purchased a new position in shares of Adaptive Biotechnologies in the third quarter valued at $34,000. ARK Investment Management LLC grew its position in shares of Adaptive Biotechnologies by 1.7% in the third quarter. ARK Investment Management LLC now owns 11,601,134 shares of the company’s stock valued at $59,398,000 after purchasing an additional 189,134 shares in the last quarter. Finally, US Bancorp DE grew its position in shares of Adaptive Biotechnologies by 77.2% in the third quarter. US Bancorp DE now owns 163,106 shares of the company’s stock valued at $835,000 after purchasing an additional 71,065 shares in the last quarter. 99.17% of the stock is owned by hedge funds and other institutional investors.

About Adaptive Biotechnologies

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.