BTIG Research Issues Positive Forecast for Adaptive Biotechnologies (NASDAQ:ADPT) Stock Price

Adaptive Biotechnologies (NASDAQ:ADPT) had its price objective lifted by stock analysts at BTIG Research from $8.00 to $9.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s target price suggests a potential upside of 50.00% from the stock’s previous close.

Separately, Piper Sandler increased their price target on shares of 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 0.5 %

Shares of NASDAQ:ADPT opened at $6.00 on Wednesday. The firm has a market cap of $885.47 million, a P/E ratio of -4.48 and a beta of 1.49. Adaptive Biotechnologies has a 12 month low of $2.28 and a 12 month high of $7.07. The company’s 50-day moving average price is $5.47 and its two-hundred day moving average price is $4.65.

Institutional Trading of Adaptive Biotechnologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC boosted its stake in shares of Adaptive Biotechnologies by 1,008.3% in the 2nd quarter. Millennium Management LLC now owns 9,262,341 shares of the company’s stock valued at $33,530,000 after purchasing an additional 8,426,580 shares during the last quarter. Rubric Capital Management LP boosted its stake in Adaptive Biotechnologies by 33.3% in the second quarter. Rubric Capital Management LP now owns 14,000,000 shares of the company’s stock valued at $50,680,000 after acquiring an additional 3,500,000 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Adaptive Biotechnologies by 50.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,912,027 shares of the company’s stock worth $14,162,000 after acquiring an additional 1,319,709 shares during the period. ARK Investment Management LLC raised its position in shares of Adaptive Biotechnologies by 8.1% during the 2nd quarter. ARK Investment Management LLC now owns 11,412,000 shares of the company’s stock valued at $41,311,000 after acquiring an additional 850,704 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Adaptive Biotechnologies by 12.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company’s stock valued at $39,597,000 after purchasing an additional 834,253 shares during the period. 99.17% of the stock is 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.