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

Adaptive Biotechnologies Co. (NASDAQ:ADPT) was the recipient of a large increase in short interest in 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 presently 8.1 days.

Hedge Funds Weigh In On Adaptive Biotechnologies

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of Adaptive Biotechnologies in the second quarter worth about $78,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Adaptive Biotechnologies by 11.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,899,631 shares of the company’s stock worth $24,977,000 after purchasing an additional 722,924 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Adaptive Biotechnologies by 769.6% in the second quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company’s stock valued at $48,000 after buying an additional 11,852 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Adaptive Biotechnologies by 16.4% in 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 during the period. Finally, Legato Capital Management LLC lifted its stake in Adaptive Biotechnologies by 63.8% during the 2nd quarter. Legato Capital Management LLC now owns 209,702 shares of the company’s stock worth $759,000 after acquiring an additional 81,648 shares in the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

Adaptive Biotechnologies Stock Up 2.3 %

Shares of NASDAQ ADPT 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 company’s 50-day simple moving average is $5.37 and its 200-day simple moving average is $4.57. The firm has a market cap of $929.75 million, a price-to-earnings ratio of -4.70 and a beta of 1.49.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ADPT shares. 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 research report on Wednesday, October 2nd. Piper Sandler increased their price target on Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th.

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.