Adaptive Biotechnologies (NASDAQ:ADPT) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) saw unusually-high trading volume on Monday . Approximately 320,388 shares were traded 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.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ADPT. Piper Sandler lifted their price target on 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 target price 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.

Adaptive Biotechnologies Trading Down 5.8 %

The stock has a market capitalization of $987.30 million, a PE ratio of -4.99 and a beta of 1.47. The business has a fifty day moving average price of $5.92 and a 200-day moving average price of $4.95.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of institutional investors have recently made changes to their positions in the business. Millennium Management LLC grew its position in Adaptive Biotechnologies by 1,008.3% during the 2nd quarter. Millennium Management LLC now owns 9,262,341 shares of the company’s stock worth $33,530,000 after acquiring an additional 8,426,580 shares during the last quarter. Rubric Capital Management LP grew its holdings in shares of Adaptive Biotechnologies by 33.3% in the second quarter. Rubric Capital Management LP now owns 14,000,000 shares of the company’s stock worth $50,680,000 after purchasing an additional 3,500,000 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Adaptive Biotechnologies by 50.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,912,027 shares of the company’s stock worth $14,162,000 after buying an additional 1,319,709 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Adaptive Biotechnologies by 12.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company’s stock valued at $39,597,000 after buying an additional 834,253 shares during the last quarter. Finally, Clearline Capital LP purchased a new stake in Adaptive Biotechnologies during the 3rd quarter valued at $3,147,000. Hedge funds and other 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.