Adaptive Biotechnologies (NASDAQ:ADPT) Stock Price Down 4.5% – Time to Sell?

Adaptive Biotechnologies Co. (NASDAQ:ADPT)’s stock price was down 4.5% during trading on Tuesday . The stock traded as low as $4.44 and last traded at $4.47. Approximately 435,422 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 1,402,044 shares. The stock had previously closed at $4.68.

Wall Street Analysts Forecast Growth

ADPT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. BTIG Research raised their price objective on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler raised their target price 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.

Adaptive Biotechnologies Stock Down 4.5 %

The firm’s fifty day moving average is $4.95 and its 200 day moving average is $4.27.

Institutional Trading of Adaptive Biotechnologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. JTC Employer Solutions Trustee Ltd acquired a new position in Adaptive Biotechnologies in the third quarter valued at about $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Adaptive Biotechnologies in the third quarter valued at approximately $34,000. Rothschild Investment LLC acquired a new position in Adaptive Biotechnologies during the second quarter worth $36,000. MQS Management LLC acquired a new position in Adaptive Biotechnologies during the second quarter worth $36,000. Finally, Nisa Investment Advisors LLC raised its position in Adaptive Biotechnologies by 769.6% during the second quarter. Nisa Investment Advisors LLC now owns 13,392 shares of the company’s stock worth $48,000 after acquiring an additional 11,852 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.

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.