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

Adaptive Biotechnologies Co. (NASDAQ:ADPT) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 9,030,000 shares, a drop of 5.7% from the November 30th total of 9,580,000 shares. Based on an average daily volume of 1,240,000 shares, the days-to-cover ratio is presently 7.3 days.

Adaptive Biotechnologies Trading Down 2.9 %

ADPT stock opened at $6.11 on Tuesday. Adaptive Biotechnologies has a 1-year low of $2.28 and a 1-year high of $7.07. The stock has a market cap of $901.71 million, a price-to-earnings ratio of -4.56 and a beta of 1.49. The company’s 50 day moving average is $5.68 and its 200 day moving average is $4.80.

Analyst Ratings Changes

ADPT has been the subject of a number of analyst reports. BTIG Research raised their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Piper Sandler boosted their price target on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an “overweight” rating in a research report on Monday, November 11th.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of large investors have recently added to or reduced their stakes in ADPT. B. Riley Wealth Advisors Inc. raised its stake in shares of Adaptive Biotechnologies by 48.1% during the third quarter. B. Riley Wealth Advisors Inc. now owns 20,000 shares of the company’s stock worth $102,000 after acquiring an additional 6,500 shares in the last quarter. Barclays PLC increased its stake in shares of Adaptive Biotechnologies by 149.5% during the third quarter. Barclays PLC now owns 230,177 shares of the company’s stock valued at $1,180,000 after buying an additional 137,936 shares during the period. Pier Capital LLC increased its position in Adaptive Biotechnologies by 20.9% during 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 during the period. State Street Corp boosted its stake in shares of Adaptive Biotechnologies by 2.0% during 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. Finally, Point72 DIFC Ltd purchased a new position in shares of Adaptive Biotechnologies during the 3rd quarter worth approximately $101,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

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.