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

Adaptive Biotechnologies Co. (NASDAQ:ADPT) was the recipient of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 8,200,000 shares, a decrease of 8.5% from the October 31st total of 8,960,000 shares. Based on an average trading volume of 1,140,000 shares, the days-to-cover ratio is presently 7.2 days.

Analysts Set New Price Targets

ADPT has been the subject of a number of analyst reports. Piper Sandler boosted 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. BTIG Research upped their price target 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.

Adaptive Biotechnologies Stock Up 3.7 %

Shares of ADPT stock opened at $5.94 on Monday. Adaptive Biotechnologies has a twelve month low of $2.28 and a twelve month high of $6.70. The business has a fifty day simple moving average of $5.07 and a 200 day simple moving average of $4.39. The company has a market cap of $876.63 million, a P/E ratio of -4.43 and a beta of 1.45.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. JTC Employer Solutions Trustee Ltd acquired a new position in Adaptive Biotechnologies during the 3rd quarter worth approximately $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Adaptive Biotechnologies during the third quarter worth $34,000. Rothschild Investment LLC bought a new position in shares of Adaptive Biotechnologies in the 2nd quarter valued at $36,000. MQS Management LLC acquired a new stake in shares of Adaptive Biotechnologies during the 2nd quarter valued at $36,000. Finally, Nisa Investment Advisors LLC grew its position in Adaptive Biotechnologies by 769.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company’s stock worth $48,000 after acquiring an additional 11,852 shares during the last quarter. 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.