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

Adaptive Biotechnologies Co. (NASDAQ:ADPT) was the recipient of a significant increase in short interest during the month of 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 daily volume of 1,190,000 shares, the short-interest ratio is currently 8.1 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. JTC Employer Solutions Trustee Ltd acquired a new stake in Adaptive Biotechnologies in the 3rd quarter worth approximately $26,000. Ashton Thomas Securities LLC acquired a new position in Adaptive Biotechnologies in the 3rd quarter worth approximately $34,000. Rothschild Investment LLC purchased a new stake in shares of Adaptive Biotechnologies in the 2nd quarter valued at $36,000. MQS Management LLC acquired a new stake in shares of Adaptive Biotechnologies in the second quarter worth $36,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of 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 purchasing an additional 11,852 shares during the last quarter. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. BTIG Research boosted their price target on Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Piper Sandler increased their target price on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday, November 11th.

Adaptive Biotechnologies Stock Up 2.3 %

Shares of Adaptive Biotechnologies stock opened at $6.30 on Friday. Adaptive Biotechnologies has a 52-week low of $2.28 and a 52-week high of $7.07. The firm’s 50 day moving average price is $5.37 and its 200-day moving average price is $4.57. The company has a market cap of $929.75 million, a P/E ratio of -4.70 and a beta of 1.49.

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.