Adaptive Biotechnologies (NASDAQ:ADPT) Stock Price Up 7.5% – Still a Buy?

Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) rose 7.5% during mid-day trading on Monday . The company traded as high as $5.06 and last traded at $5.04. Approximately 120,896 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 1,408,779 shares. The stock had previously closed at $4.69.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. BTIG Research lifted their price objective on Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, Piper Sandler increased their target price on Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday, November 11th.

Adaptive Biotechnologies Trading Up 1.8 %

The stock has a market capitalization of $838.25 million, a P/E ratio of -4.24 and a beta of 1.45. The firm’s fifty day moving average is $5.00 and its 200-day moving average is $4.35.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. JTC Employer Solutions Trustee Ltd bought a new stake in Adaptive Biotechnologies during the 3rd quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Adaptive Biotechnologies during the third quarter worth $34,000. Rothschild Investment LLC acquired a new stake in shares of Adaptive Biotechnologies in the second quarter valued at $36,000. MQS Management LLC bought a new position in shares of Adaptive Biotechnologies in the second quarter valued at about $36,000. Finally, Nisa Investment Advisors LLC lifted its position in Adaptive Biotechnologies by 769.6% during the 2nd 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 in the last quarter. Institutional investors 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.