Adaptive Biotechnologies Co. (NASDAQ:ADPT – Get Free Report) fell 6.5% on Tuesday . The company traded as low as $5.98 and last traded at $6.04. 669,078 shares were traded during mid-day trading, a decline of 55% from the average session volume of 1,503,285 shares. The stock had previously closed at $6.46.
Wall Street Analyst Weigh In
ADPT has been the topic of several research reports. BTIG Research increased their target price on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler raised their price objective on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an “overweight” rating in a research note on Monday, November 11th.
Get Our Latest Report on Adaptive Biotechnologies
Adaptive Biotechnologies Trading Down 6.5 %
Institutional Trading of Adaptive Biotechnologies
A number of hedge funds and other institutional investors have recently bought and sold shares of ADPT. Barclays PLC increased its holdings in shares of Adaptive Biotechnologies by 149.5% in the 3rd quarter. Barclays PLC now owns 230,177 shares of the company’s stock valued at $1,180,000 after acquiring an additional 137,936 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Adaptive Biotechnologies by 12.1% in 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. Millrace Asset Group Inc. acquired a new stake in shares of Adaptive Biotechnologies during the third quarter worth about $1,396,000. Point72 Asset Management L.P. acquired a new stake in shares of Adaptive Biotechnologies in the 3rd quarter valued at about $2,537,000. Finally, Rubric Capital Management LP boosted its holdings in shares of Adaptive Biotechnologies by 2.9% in the third quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company’s stock valued at $73,728,000 after acquiring an additional 400,000 shares during the period. 99.17% of the stock is currently owned by institutional investors and hedge funds.
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.
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