Adaptive Biotechnologies Co. (NASDAQ:ADPT) Short Interest Down 5.5% in October

Adaptive Biotechnologies Co. (NASDAQ:ADPT) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 8,960,000 shares, a drop 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 days-to-cover ratio is presently 8.5 days.

Adaptive Biotechnologies Price Performance

ADPT opened at $5.08 on Monday. The company has a market capitalization of $749.71 million, a price-to-earnings ratio of -3.79 and a beta of 1.45. The business’s 50-day moving average price is $4.95 and its two-hundred day moving average price is $4.26. Adaptive Biotechnologies has a 1 year low of $2.28 and a 1 year high of $6.70.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of hedge funds and other institutional investors have recently bought and sold shares of ADPT. JTC Employer Solutions Trustee Ltd acquired a new position in Adaptive Biotechnologies during the 3rd quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Adaptive Biotechnologies in the third quarter worth $34,000. Rothschild Investment LLC bought a new stake in shares of Adaptive Biotechnologies in the second quarter worth $36,000. MQS Management LLC acquired a new position in Adaptive Biotechnologies during the second quarter worth $36,000. Finally, Nisa Investment Advisors LLC grew its position in Adaptive Biotechnologies by 769.6% in the second quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company’s stock valued at $48,000 after purchasing an additional 11,852 shares in the last quarter. Institutional investors and hedge funds 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.