Adaptive Biotechnologies (NASDAQ:ADPT) Shares Down 6.5% – What’s Next?

Adaptive Biotechnologies Co. (NASDAQ:ADPT) traded down 6.5% during trading on Tuesday . The stock traded as low as $5.98 and last traded at $6.04. 669,078 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 1,503,285 shares. The stock had previously closed at $6.46.

Analyst Ratings Changes

Several brokerages recently weighed in on ADPT. BTIG Research raised their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Piper Sandler increased their price target 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.

Adaptive Biotechnologies Trading Down 3.4 %

The stock has a fifty day moving average price of $6.10 and a 200 day moving average price of $5.08. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -5.16 and a beta of 1.47.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JTC Employer Solutions Trustee Ltd bought a new stake in shares of Adaptive Biotechnologies during the 3rd quarter worth $26,000. Ashton Thomas Securities LLC acquired a new position in Adaptive Biotechnologies during the 3rd quarter worth $34,000. GAMMA Investing LLC bought a new stake in Adaptive Biotechnologies during the fourth quarter valued at about $59,000. MQS Management LLC acquired a new stake in shares of Adaptive Biotechnologies in the second quarter valued at about $36,000. Finally, Townsquare Capital LLC bought a new position in shares of Adaptive Biotechnologies in the third quarter worth about $56,000. 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.