Adaptive Biotechnologies (NASDAQ:ADPT) Stock Price Expected to Rise, Piper Sandler Analyst Says

Adaptive Biotechnologies (NASDAQ:ADPT) had its price objective hoisted by Piper Sandler from $6.00 to $7.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 18.04% from the company’s previous close.

Several other brokerages have also commented on ADPT. JPMorgan Chase & Co. increased their price objective on Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. BTIG Research increased their price target on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd.

Adaptive Biotechnologies Stock Performance

NASDAQ ADPT opened at $5.93 on Monday. The company has a market capitalization of $874.50 million, a P/E ratio of -4.43 and a beta of 1.45. Adaptive Biotechnologies has a 52-week low of $2.28 and a 52-week high of $6.70. The company has a fifty day moving average of $4.88 and a 200-day moving average of $4.21.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. JTC Employer Solutions Trustee Ltd purchased a new position in Adaptive Biotechnologies during the 3rd quarter valued at about $26,000. Ashton Thomas Securities LLC bought a new position in shares of Adaptive Biotechnologies during the third quarter valued at approximately $34,000. Rothschild Investment LLC purchased a new stake in Adaptive Biotechnologies in the second quarter worth $36,000. MQS Management LLC bought a new stake in Adaptive Biotechnologies in the second quarter valued at $36,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new position in Adaptive Biotechnologies during the 1st quarter valued at $46,000. 99.17% of the stock is currently owned by institutional investors.

Adaptive Biotechnologies Company Profile

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.