Adaptive Biotechnologies Co. (NASDAQ:ADPT) Short Interest Update

Adaptive Biotechnologies Co. (NASDAQ:ADPT) was the target of a significant decline in short interest in December. As of December 15th, there was short interest totalling 9,030,000 shares, a decline of 5.7% from the November 30th total of 9,580,000 shares. Based on an average daily trading volume, of 1,240,000 shares, the days-to-cover ratio is presently 7.3 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. increased its position in Adaptive Biotechnologies by 48.1% during the third quarter. B. Riley Wealth Advisors Inc. now owns 20,000 shares of the company’s stock worth $102,000 after purchasing an additional 6,500 shares during the last quarter. Barclays PLC increased its holdings in shares of Adaptive Biotechnologies by 149.5% during the 3rd 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 increased its holdings in shares of Adaptive Biotechnologies by 20.9% during the 3rd quarter. Pier Capital LLC now owns 1,275,885 shares of the company’s stock worth $6,533,000 after buying an additional 220,586 shares during the last quarter. State Street Corp raised its position in shares of Adaptive Biotechnologies by 2.0% during the 3rd quarter. State Street Corp now owns 2,551,785 shares of the company’s stock valued at $13,065,000 after buying an additional 48,885 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in Adaptive Biotechnologies in the third quarter valued at approximately $101,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on ADPT. BTIG Research increased their price objective on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler increased their target price 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.

Adaptive Biotechnologies Stock Performance

Shares of Adaptive Biotechnologies stock opened at $5.99 on Thursday. The business’s 50 day moving average price is $5.73 and its 200 day moving average price is $4.83. The company has a market cap of $884.00 million, a price-to-earnings ratio of -4.47 and a beta of 1.49. Adaptive Biotechnologies has a one year low of $2.28 and a one year high of $7.07.

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.