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

Adaptive Biotechnologies Co. (NASDAQ:ADPT) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 8,960,000 shares, a decline of 5.5% from the October 15th total of 9,480,000 shares. Based on an average daily volume of 1,050,000 shares, the short-interest ratio is currently 8.5 days.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Piper Sandler boosted their target price on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. BTIG Research upped their price objective on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd.

Adaptive Biotechnologies Trading Down 7.9 %

Shares of NASDAQ ADPT opened at $4.68 on Tuesday. Adaptive Biotechnologies has a 12-month low of $2.28 and a 12-month high of $6.70. The stock has a market cap of $690.67 million, a PE ratio of -3.60 and a beta of 1.45. The company has a 50-day moving average of $4.95 and a 200 day moving average of $4.27.

Institutional Trading of Adaptive Biotechnologies

Hedge funds have recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Adaptive Biotechnologies by 11.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,899,631 shares of the company’s stock valued at $24,977,000 after buying an additional 722,924 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake 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 period. Millennium Management LLC grew its stake in shares of Adaptive Biotechnologies by 1,008.3% in the 2nd quarter. Millennium Management LLC now owns 9,262,341 shares of the company’s stock valued at $33,530,000 after buying an additional 8,426,580 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Adaptive Biotechnologies in the 1st quarter valued at approximately $519,000. Finally, AQR Capital Management LLC grew its stake in shares of Adaptive Biotechnologies by 244.4% in the 2nd quarter. AQR Capital Management LLC now owns 182,076 shares of the company’s stock valued at $635,000 after buying an additional 129,201 shares during the period. 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.