Adaptive Biotechnologies (NASDAQ:ADPT) Trading Up 12.7% Following Analyst Upgrade

Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) were up 12.7% during mid-day trading on Monday after Piper Sandler raised their price target on the stock from $6.00 to $7.00. Piper Sandler currently has an overweight rating on the stock. Adaptive Biotechnologies traded as high as $6.56 and last traded at $6.56. Approximately 331,482 shares traded hands during trading, a decline of 76% from the average daily volume of 1,403,812 shares. The stock had previously closed at $5.82.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upped their price target on shares of 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 upped 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.

Institutional Investors Weigh In On Adaptive Biotechnologies

Large investors have recently modified their holdings of the company. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Adaptive Biotechnologies during the third quarter worth $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Adaptive Biotechnologies during the third quarter worth $34,000. Rothschild Investment LLC acquired a new stake in shares of Adaptive Biotechnologies during the second quarter worth $36,000. MQS Management LLC acquired a new stake in shares of Adaptive Biotechnologies during the second quarter worth $36,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Adaptive Biotechnologies during the first quarter worth $46,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Adaptive Biotechnologies Stock Performance

The company’s 50-day moving average price is $4.85 and its two-hundred day moving average price is $4.19.

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.