Adaptive Biotechnologies (NASDAQ:ADPT) Shares Up 7.3% - Should You Buy?

On Thursday, shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) experienced a notable increase, rising by 7.3% during trading. The stock reached a high of $6.45 before settling at $6.44. However, trading volume was lower than usual, with approximately 102,666 shares changing hands, significantly down from the average daily volume of 1,394,303 shares. The day's trading started with a closing price of $6.00.

Analyst Ratings Changes

Recent evaluations by various research analysts have provided some insights into the stock's potential. For example, BTIG Research recently increased their price target for Adaptive Biotechnologies from $8.00 to $9.00 and assigned a "buy" rating in a note published on December 18th. Meanwhile, Piper Sandler also raised their price target, moving it from $6.00 to $7.00 and labeling the stock as "overweight" in their assessment dated November 11th.

Adaptive Biotechnologies Stock Performance

The stock has demonstrated a 50-day moving average of $5.73 and a two-hundred day moving average of $4.83. With a market capitalization of $934.18 million, Adaptive Biotechnologies currently has a price-to-earnings (P/E) ratio of -4.72 and a beta of 1.49, indicating a potentially higher volatility in comparison to the broader market.

Institutional Trading of Adaptive Biotechnologies

Institutional investors have recently made significant adjustments to their holdings in Adaptive Biotechnologies. For instance, Millennium Management LLC dramatically boosted its stake by 1,008.3% during the second quarter, now owning 9,262,341 shares valued at approximately $33,530,000. Rubric Capital Management LP increased its position by 33.3%, bringing their total to 14,000,000 shares worth $50,680,000 after adding 3,500,000 shares in the last quarter. Additionally, Massachusetts Financial Services Co. MA raised its investment by 50.9%, accumulating 3,912,027 shares valued at $14,162,000 after acquiring 1,319,709 shares. Sumitomo Mitsui Trust Group Inc. also increased its holdings by 12.1%, now owning 7,733,884 shares worth $39,597,000. Notably, approximately 99.17% of the stock is held by institutional investors.

About Adaptive Biotechnologies

Adaptive Biotechnologies Corporation is a commercial-stage enterprise focused on developing an immune medicine platform tailored for the diagnosis and treatment of various diseases. The company utilizes an immunosequencing platform that integrates proprietary chemistry, computational biology, and machine learning to create clinical immunomics data aimed at decoding the adaptive immune system.

Should You Invest $1,000 in Adaptive Biotechnologies Right Now?

Before making any investment decisions regarding Adaptive Biotechnologies, it's crucial to be aware of analysts' opinions. Currently, while the stock is rated as a "Moderate Buy" by several analysts, there are recommendations that suggest exploring other options. MarketBeat has identified five stocks that analysts consider more favorable investments at this time.

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