Adaptive Biotechnologies (NASDAQ:ADPT) Trading 7.1% Higher – Here’s Why

Adaptive Biotechnologies Co. (NASDAQ:ADPT)’s stock price traded up 7.1% during trading on Tuesday . The stock traded as high as $7.26 and last traded at $7.29. 99,618 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 1,512,606 shares. The stock had previously closed at $6.81.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ADPT. BTIG Research raised their target price on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler upped their target price on Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an “overweight” rating in a research report on Monday, November 11th.

Adaptive Biotechnologies Price Performance

The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -6.07 and a beta of 1.47. The business’s 50-day moving average price is $6.20 and its two-hundred day moving average price is $5.20.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. JTC Employer Solutions Trustee Ltd acquired a new stake in Adaptive Biotechnologies during the third quarter worth about $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Adaptive Biotechnologies during the 3rd quarter worth approximately $34,000. B. Riley Wealth Advisors Inc. bought a new position in Adaptive Biotechnologies in the second quarter valued at approximately $49,000. KBC Group NV acquired a new position in Adaptive Biotechnologies during the fourth quarter valued at approximately $50,000. Finally, Townsquare Capital LLC bought a new stake in Adaptive Biotechnologies during the third quarter worth $56,000. Institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Company Profile

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.