Short Interest in Adaptive Biotechnologies Co. (NASDAQ:ADPT) Drops By 5.7%

Adaptive Biotechnologies Co. (NASDAQ:ADPT) saw a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 9,030,000 shares, a decrease 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.

Adaptive Biotechnologies Price Performance

NASDAQ ADPT opened at $5.99 on Thursday. The company has a market cap of $884.00 million, a P/E ratio of -4.47 and a beta of 1.49. Adaptive Biotechnologies has a 1-year low of $2.28 and a 1-year high of $7.07. The stock has a 50-day moving average of $5.73 and a two-hundred day moving average of $4.83.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. JTC Employer Solutions Trustee Ltd purchased a new position in Adaptive Biotechnologies in the 3rd quarter valued at approximately $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Adaptive Biotechnologies in the third quarter valued at $34,000. MQS Management LLC purchased a new position in Adaptive Biotechnologies in the second quarter valued at $36,000. Rothschild Investment LLC acquired a new position in Adaptive Biotechnologies during the 2nd quarter worth $36,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in Adaptive Biotechnologies during the 2nd quarter worth about $49,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

Wall Street Analysts Forecast Growth

ADPT has been the subject of a number of recent analyst reports. Piper Sandler lifted their price target 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 lifted their target price on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, December 18th.

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.