Piper Sandler Raises Adaptive Biotechnologies (NASDAQ:ADPT) Price Target to $7.00

Adaptive Biotechnologies (NASDAQ:ADPT) had its price target raised by Piper Sandler from $6.00 to $7.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts also recently weighed in on ADPT. JPMorgan Chase & Co. upped their target price on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. BTIG Research boosted their price target on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd.

Adaptive Biotechnologies Stock Performance

Shares of Adaptive Biotechnologies stock opened at $5.58 on Monday. The company has a market capitalization of $823.49 million, a P/E ratio of -4.14 and a beta of 1.45. The company has a fifty day moving average of $4.91 and a 200 day moving average of $4.22. Adaptive Biotechnologies has a fifty-two week low of $2.28 and a fifty-two week high of $6.70.

Institutional Trading of Adaptive Biotechnologies

Several hedge funds have recently bought and sold shares of the stock. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of Adaptive Biotechnologies during the 3rd quarter valued at about $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of Adaptive Biotechnologies during the 3rd quarter valued at about $34,000. Rothschild Investment LLC purchased a new stake in shares of Adaptive Biotechnologies during the 2nd quarter valued at about $36,000. MQS Management LLC purchased a new stake in shares of Adaptive Biotechnologies during the 2nd quarter valued at about $36,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Adaptive Biotechnologies during the 1st quarter valued at about $46,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

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.