Adaptive Biotechnologies (NASDAQ:ADPT) Shares Up 7.5% – Still a Buy?

Adaptive Biotechnologies Co. (NASDAQ:ADPT) shares shot up 7.5% on Monday . The stock traded as high as $5.06 and last traded at $5.04. 120,896 shares were traded during mid-day trading, a decline of 91% from the average session volume of 1,408,779 shares. The stock had previously closed at $4.69.

Wall Street Analyst Weigh In

ADPT has been the topic of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. BTIG Research lifted their target price on Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler upped their price target on Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an “overweight” rating in a research note on Monday, November 11th.

Adaptive Biotechnologies Stock Up 22.2 %

The company’s fifty day moving average is $4.96 and its two-hundred day moving average is $4.32. The firm has a market capitalization of $845.63 million, a price-to-earnings ratio of -3.76 and a beta of 1.45.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of institutional investors have recently made changes to their positions in ADPT. Barclays PLC boosted its holdings in Adaptive Biotechnologies by 149.5% during the third quarter. Barclays PLC now owns 230,177 shares of the company’s stock worth $1,180,000 after buying an additional 137,936 shares during the last quarter. Pier Capital LLC raised its position in shares of Adaptive Biotechnologies by 20.9% in the 3rd quarter. Pier Capital LLC now owns 1,275,885 shares of the company’s stock valued at $6,533,000 after acquiring an additional 220,586 shares during the period. State Street Corp grew its holdings in Adaptive Biotechnologies by 2.0% during the third 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 during the period. Point72 DIFC Ltd bought a new stake in Adaptive Biotechnologies in the third quarter valued at approximately $101,000. Finally, Point72 Asset Management L.P. bought a new stake in Adaptive Biotechnologies in the third quarter valued at approximately $2,537,000. 99.17% of the stock is owned by institutional investors and hedge funds.

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.