Piper Sandler Issues Positive Forecast for Adaptive Biotechnologies (NASDAQ:ADPT) Stock Price

Adaptive Biotechnologies (NASDAQ:ADPT) had its price objective boosted by Piper Sandler from $6.00 to $7.00 in a research note published on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. lifted their price target on Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. BTIG Research lifted their target price on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd.

Adaptive Biotechnologies Trading Down 1.3 %

ADPT stock opened at $5.85 on Monday. The firm has a market cap of $863.34 million, a P/E ratio of -4.37 and a beta of 1.45. The business’s 50 day moving average is $4.91 and its 200-day moving average is $4.22. Adaptive Biotechnologies has a 1-year low of $2.28 and a 1-year high of $6.70.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its position in Adaptive Biotechnologies by 48.8% during the 1st quarter. BNP Paribas Financial Markets now owns 63,141 shares of the company’s stock worth $203,000 after buying an additional 20,710 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Adaptive Biotechnologies in the first quarter valued at approximately $71,000. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Adaptive Biotechnologies during the 1st quarter worth approximately $46,000. Vanguard Group Inc. increased its position in shares of Adaptive Biotechnologies by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 12,869,818 shares of the company’s stock worth $41,312,000 after purchasing an additional 102,134 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Adaptive Biotechnologies during the 1st quarter worth approximately $519,000. 99.17% of the stock is currently owned by institutional investors.

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.