Adaptive Biotechnologies Co. (NASDAQ:ADPT) Sees Large Increase in Short Interest

Adaptive Biotechnologies Co. (NASDAQ:ADPT) saw a large increase in short interest in November. As of November 30th, there was short interest totalling 9,580,000 shares, an increase of 16.8% from the November 15th total of 8,200,000 shares. Based on an average trading volume of 1,190,000 shares, the days-to-cover ratio is currently 8.1 days.

Adaptive Biotechnologies Price Performance

NASDAQ ADPT opened at $6.30 on Monday. The company’s fifty day moving average is $5.37 and its two-hundred day moving average is $4.59. The firm has a market capitalization of $929.75 million, a price-to-earnings ratio of -4.70 and a beta of 1.49. Adaptive Biotechnologies has a 52-week low of $2.28 and a 52-week high of $7.07.

Wall Street Analyst Weigh In

Several research analysts recently commented on ADPT shares. BTIG Research lifted their target price on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Piper Sandler lifted their price objective on Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in shares of Adaptive Biotechnologies by 5.9% during the second quarter. The Manufacturers Life Insurance Company now owns 48,834 shares of the company’s stock valued at $177,000 after purchasing an additional 2,710 shares during the period. Vontobel Holding Ltd. raised its holdings in shares of Adaptive Biotechnologies by 30.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 17,000 shares of the company’s stock worth $87,000 after buying an additional 4,000 shares in the last quarter. JTC Employer Solutions Trustee Ltd acquired a new position in Adaptive Biotechnologies during the third quarter worth $26,000. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of Adaptive Biotechnologies by 29.5% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 25,576 shares of the company’s stock valued at $131,000 after acquiring an additional 5,826 shares during the period. Finally, B. Riley Wealth Advisors Inc. boosted its stake in shares of Adaptive Biotechnologies by 48.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 20,000 shares of the company’s stock valued at $102,000 after purchasing an additional 6,500 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors.

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.