Adaptive Biotechnologies Co. (NASDAQ:ADPT) Sees Significant Decline in Short Interest

Adaptive Biotechnologies Co. (NASDAQ:ADPT) was the recipient of a significant decline in short interest in the month of 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 short-interest ratio is presently 7.3 days.

Wall Street Analysts Forecast Growth

ADPT has been the subject of a number of research analyst reports. BTIG Research raised their price target 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 upped their price objective on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday, November 11th.

Institutional Investors Weigh In On Adaptive Biotechnologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JTC Employer Solutions Trustee Ltd bought a new stake in shares of Adaptive Biotechnologies during the 3rd quarter valued at $26,000. Ashton Thomas Securities LLC purchased a new position in Adaptive Biotechnologies during the 3rd quarter valued at about $34,000. MQS Management LLC bought a new stake in Adaptive Biotechnologies during the second quarter worth about $36,000. Rothschild Investment LLC purchased a new stake in Adaptive Biotechnologies in the second quarter worth about $36,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Adaptive Biotechnologies during the second quarter valued at approximately $49,000. 99.17% of the stock is owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Stock Performance

ADPT stock opened at $5.99 on Wednesday. The company has a market capitalization of $884.00 million, a price-to-earnings ratio of -4.47 and a beta of 1.49. The business’s 50 day moving average price is $5.71 and its two-hundred day moving average price is $4.82. Adaptive Biotechnologies has a fifty-two week low of $2.28 and a fifty-two week high of $7.07.

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.