Short Interest in Adaptive Biotechnologies Co. (NASDAQ:ADPT) Declines By 5.5%

Adaptive Biotechnologies Co. (NASDAQ:ADPT) was the recipient of a large decline in short interest in the month of 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 trading volume, of 1,050,000 shares, the days-to-cover ratio is currently 8.5 days.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. JTC Employer Solutions Trustee Ltd bought a new position in Adaptive Biotechnologies in the third quarter valued at approximately $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Adaptive Biotechnologies during the third quarter worth $34,000. Rothschild Investment LLC bought a new stake in Adaptive Biotechnologies in the second quarter valued at about $36,000. MQS Management LLC acquired a new position in Adaptive Biotechnologies in the second quarter valued at about $36,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Adaptive Biotechnologies by 769.6% during the second quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company’s stock worth $48,000 after buying an additional 11,852 shares during the last quarter. 99.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ADPT has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price 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. BTIG Research upped their price objective on Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler raised their target price on Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th.

Adaptive Biotechnologies Trading Down 9.0 %

Shares of NASDAQ:ADPT opened at $5.08 on Monday. Adaptive Biotechnologies has a 1-year low of $2.28 and a 1-year high of $6.70. The stock has a market capitalization of $749.71 million, a P/E ratio of -3.79 and a beta of 1.45. The business has a 50-day moving average price of $4.95 and a two-hundred day moving average price of $4.26.

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.