Adaptive Biotechnologies (NASDAQ:ADPT) Sets New 1-Year High – Still a Buy?

Adaptive Biotechnologies Co. (NASDAQ:ADPT) reached a new 52-week high during trading on Friday . The company traded as high as $7.19 and last traded at $7.07, with a volume of 661045 shares trading hands. The stock had previously closed at $6.19.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. BTIG Research lifted their price objective on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Piper Sandler lifted 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 14.7 %

The stock has a market capitalization of $1.05 billion, a P/E ratio of -5.30 and a beta of 1.49. The stock’s 50-day moving average price is $5.77 and its two-hundred day moving average price is $4.84.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several hedge funds have recently made changes to their positions in the stock. JTC Employer Solutions Trustee Ltd purchased a new position in Adaptive Biotechnologies in the third quarter worth $26,000. Ashton Thomas Securities LLC purchased a new position in shares of Adaptive Biotechnologies in the 3rd quarter worth about $34,000. GAMMA Investing LLC bought a new position in shares of Adaptive Biotechnologies during the 4th quarter valued at about $59,000. MQS Management LLC purchased a new position in shares of Adaptive Biotechnologies during the 2nd quarter valued at about $36,000. Finally, Rothschild Investment LLC bought a new stake in Adaptive Biotechnologies in the 2nd quarter worth approximately $36,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

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.