Adaptive Biotechnologies Co. (NASDAQ:ADPT) Short Interest Update

Adaptive Biotechnologies Co. (NASDAQ:ADPT) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 8,960,000 shares, a decrease of 5.5% from the October 15th total of 9,480,000 shares. Based on an average trading volume of 1,050,000 shares, the days-to-cover ratio is presently 8.5 days.

Wall Street Analysts Forecast Growth

ADPT has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Piper Sandler increased their target price on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Finally, BTIG Research increased their target price on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC raised its holdings in shares of Adaptive Biotechnologies by 149.5% in the 3rd quarter. Barclays PLC now owns 230,177 shares of the company’s stock valued at $1,180,000 after purchasing an additional 137,936 shares in the last quarter. Pier Capital LLC raised its holdings in shares of Adaptive Biotechnologies by 20.9% in the 3rd quarter. Pier Capital LLC now owns 1,275,885 shares of the company’s stock valued at $6,533,000 after purchasing an additional 220,586 shares in the last quarter. State Street Corp raised its holdings in shares of Adaptive Biotechnologies by 2.0% in the 3rd quarter. State Street Corp now owns 2,551,785 shares of the company’s stock valued at $13,065,000 after purchasing an additional 48,885 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Adaptive Biotechnologies in the 3rd quarter valued at $101,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Adaptive Biotechnologies in the 3rd quarter valued at $2,537,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Adaptive Biotechnologies Stock Down 7.9 %

Adaptive Biotechnologies stock opened at $4.68 on Tuesday. Adaptive Biotechnologies has a 52-week low of $2.28 and a 52-week high of $6.70. The company’s 50 day moving average is $4.95 and its two-hundred day moving average is $4.27. The firm has a market cap of $690.67 million, a PE ratio of -3.60 and a beta of 1.45.

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.