Adaptive Biotechnologies Co. (NASDAQ:ADPT) Short Interest Down 8.5% in November

Adaptive Biotechnologies Co. (NASDAQ:ADPT) saw a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 8,200,000 shares, a decrease of 8.5% from the October 31st total of 8,960,000 shares. Based on an average daily trading volume, of 1,140,000 shares, the days-to-cover ratio is presently 7.2 days.

Adaptive Biotechnologies Trading Up 9.9 %

ADPT opened at $6.53 on Tuesday. The company has a market cap of $963.70 million, a price-to-earnings ratio of -4.87 and a beta of 1.45. The company’s 50 day moving average is $5.12 and its 200 day moving average is $4.41. Adaptive Biotechnologies has a 12-month low of $2.28 and a 12-month high of $6.70.

Institutional Investors Weigh In On Adaptive Biotechnologies

Institutional investors and hedge funds have recently modified their holdings of the stock. JTC Employer Solutions Trustee Ltd bought a new stake in Adaptive Biotechnologies in the third quarter worth $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of Adaptive Biotechnologies during the third quarter valued at $34,000. MQS Management LLC purchased a new stake in shares of Adaptive Biotechnologies during the second quarter valued at $36,000. Rothschild Investment LLC purchased a new stake in shares of Adaptive Biotechnologies during the second quarter valued at $36,000. Finally, Townsquare Capital LLC bought a new stake in shares of Adaptive Biotechnologies in the third quarter valued at about $56,000. Institutional investors own 99.17% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ADPT. Piper Sandler upped their price objective 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. BTIG Research upped their price objective on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd.

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.