Adaptive Biotechnologies (NASDAQ:ADPT) Sees Large Volume Increase – Still a Buy?

Adaptive Biotechnologies Co. (NASDAQ:ADPT) shares saw unusually-strong trading volume on Monday . Approximately 320,388 shares traded hands during trading, a decline of 45% from the previous session’s volume of 586,288 shares.The stock last traded at $7.33 and had previously closed at $7.20.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. BTIG Research lifted their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. 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 note on Monday, November 11th.

Adaptive Biotechnologies Trading Down 5.8 %

The stock has a market capitalization of $987.30 million, a P/E ratio of -4.99 and a beta of 1.47. The stock’s 50-day moving average price is $5.92 and its two-hundred day moving average price is $4.95.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in Adaptive Biotechnologies by 16.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 460,132 shares of the company’s stock valued at $1,666,000 after buying an additional 64,788 shares in the last quarter. Rhumbline Advisers grew its stake in Adaptive Biotechnologies by 8.3% during the second quarter. Rhumbline Advisers now owns 188,285 shares of the company’s stock valued at $682,000 after acquiring an additional 14,430 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in Adaptive Biotechnologies by 104.1% during the 2nd quarter. Los Angeles Capital Management LLC now owns 44,159 shares of the company’s stock worth $160,000 after acquiring an additional 22,527 shares during the period. American Century Companies Inc. lifted its stake in Adaptive Biotechnologies by 18.3% in the 2nd quarter. American Century Companies Inc. now owns 45,562 shares of the company’s stock worth $165,000 after purchasing an additional 7,039 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Adaptive Biotechnologies by 50.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,912,027 shares of the company’s stock valued at $14,162,000 after purchasing an additional 1,319,709 shares during the period. 99.17% of the stock is owned by institutional investors.

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.