Adaptive Biotechnologies Co. (NASDAQ:ADPT) Short Interest Down 8.5% in November

Adaptive Biotechnologies Co. (NASDAQ:ADPT) saw a significant 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 short-interest ratio is presently 7.2 days.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Piper Sandler upped their price target on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an “overweight” rating in a report on Monday, November 11th. BTIG Research increased their target price on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of hedge funds and other institutional investors have recently bought and sold shares of ADPT. The Manufacturers Life Insurance Company boosted its position in shares of Adaptive Biotechnologies by 5.9% during the second quarter. The Manufacturers Life Insurance Company now owns 48,834 shares of the company’s stock worth $177,000 after purchasing an additional 2,710 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of Adaptive Biotechnologies by 30.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 17,000 shares of the company’s stock worth $87,000 after purchasing an additional 4,000 shares during the last quarter. JTC Employer Solutions Trustee Ltd acquired a new position in Adaptive Biotechnologies in the 3rd quarter valued at about $26,000. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in Adaptive Biotechnologies by 29.5% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 25,576 shares of the company’s stock valued at $131,000 after buying an additional 5,826 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in Adaptive Biotechnologies in the 3rd quarter valued at about $34,000. 99.17% of the stock is owned by institutional investors.

Adaptive Biotechnologies Trading Up 1.6 %

Shares of Adaptive Biotechnologies stock traded up $0.10 during midday trading on Wednesday, reaching $6.40. The company had a trading volume of 342,807 shares, compared to its average volume of 1,416,924. Adaptive Biotechnologies has a 1-year low of $2.28 and a 1-year high of $6.70. The company has a market capitalization of $944.51 million, a price-to-earnings ratio of -4.70 and a beta of 1.49. The stock has a fifty day simple moving average of $5.16 and a 200 day simple moving average of $4.43.

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.