BTIG Research Raises Adaptive Biotechnologies (NASDAQ:ADPT) Price Target to $9.00

Adaptive Biotechnologies (NASDAQ:ADPT) had its price objective raised by BTIG Research from $8.00 to $9.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Piper Sandler upped their price objective on Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an “overweight” rating in a research note on Monday, November 11th.

Adaptive Biotechnologies Stock Up 6.5 %

ADPT opened at $6.39 on Wednesday. The business’s 50 day moving average is $5.50 and its two-hundred day moving average is $4.67. The firm has a market cap of $943.03 million, a price-to-earnings ratio of -4.77 and a beta of 1.49. Adaptive Biotechnologies has a 52 week low of $2.28 and a 52 week high of $7.07.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADPT. The Manufacturers Life Insurance Company increased its position in shares of Adaptive Biotechnologies by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 48,834 shares of the company’s stock valued at $177,000 after buying an additional 2,710 shares in the last quarter. Vontobel Holding Ltd. boosted its position in Adaptive Biotechnologies by 30.8% during the third quarter. Vontobel Holding Ltd. now owns 17,000 shares of the company’s stock worth $87,000 after acquiring an additional 4,000 shares during the last quarter. JTC Employer Solutions Trustee Ltd acquired a new position in Adaptive Biotechnologies in the third quarter valued at $26,000. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in shares of Adaptive Biotechnologies by 29.5% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 25,576 shares of the company’s stock valued at $131,000 after acquiring an additional 5,826 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its stake in Adaptive Biotechnologies by 48.1% during the third quarter. B. Riley Wealth Advisors Inc. now owns 20,000 shares of the company’s stock worth $102,000 after purchasing an additional 6,500 shares during the period. 99.17% of the stock is currently owned by institutional investors and hedge funds.

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.