Adaptive Biotechnologies (NASDAQ:ADPT) Trading Down 4.6% – Time to Sell?

Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) fell 4.6% during trading on Tuesday . The stock traded as low as $7.34 and last traded at $7.35. 466,205 shares changed hands during trading, a decline of 68% from the average session volume of 1,446,631 shares. The stock had previously closed at $7.70.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. 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 report on Monday, November 11th. Finally, BTIG Research boosted their price objective on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th.

Adaptive Biotechnologies Stock Down 4.3 %

The business’s 50-day moving average price is $6.68 and its 200-day moving average price is $5.43. The firm has a market capitalization of $1.09 billion, a PE ratio of -5.50 and a beta of 1.49.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of institutional investors have recently modified their holdings of ADPT. JTC Employer Solutions Trustee Ltd bought a new position in Adaptive Biotechnologies during the third quarter valued at approximately $26,000. Ashton Thomas Securities LLC bought a new position in shares of Adaptive Biotechnologies during the 3rd quarter valued at $34,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Adaptive Biotechnologies in the 2nd quarter valued at $49,000. KBC Group NV bought a new stake in Adaptive Biotechnologies in the fourth quarter worth $50,000. Finally, Townsquare Capital LLC bought a new position in Adaptive Biotechnologies during the third quarter valued at about $56,000. Institutional investors and hedge funds 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.