Adaptive Biotechnologies (NASDAQ:ADPT) Sees Strong Trading Volume – Time to Buy?

Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) saw unusually-high trading volume on Monday . Approximately 320,388 shares traded hands during mid-day trading, a decline of 45% from the previous session’s volume of 586,288 shares.The stock last traded at $7.33 and had previously closed at $7.20.

Analysts Set New Price Targets

Several analysts recently issued reports on ADPT shares. Piper Sandler lifted 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. BTIG Research lifted their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, December 18th.

Adaptive Biotechnologies Trading Down 0.6 %

The stock’s 50-day moving average price is $5.82 and its two-hundred day moving average price is $4.88. The stock has a market capitalization of $1.06 billion, a P/E ratio of -5.34 and a beta of 1.47.

Institutional Trading of Adaptive Biotechnologies

A number of large investors have recently bought and sold shares of ADPT. JTC Employer Solutions Trustee Ltd purchased a new stake in Adaptive Biotechnologies in the 3rd quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of Adaptive Biotechnologies during the 3rd quarter valued at approximately $34,000. MQS Management LLC purchased a new stake in shares of Adaptive Biotechnologies during the 2nd quarter valued at approximately $36,000. B. Riley Wealth Advisors Inc. bought a new position in Adaptive Biotechnologies in the 2nd quarter worth approximately $49,000. Finally, Townsquare Capital LLC purchased a new position in Adaptive Biotechnologies in the 3rd quarter valued at approximately $56,000. 99.17% of the stock is owned by hedge funds and other institutional investors.

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.