Adaptive Biotechnologies (NASDAQ:ADPT) Stock Price Up 12.7% After Analyst Upgrade

Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) traded up 12.7% during 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. 331,482 shares traded hands during trading, a decline of 76% from the average session volume of 1,403,812 shares. The stock had previously closed at $5.82.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its stake in shares of Adaptive Biotechnologies by 48.8% during the 1st quarter. BNP Paribas Financial Markets now owns 63,141 shares of the company’s stock valued at $203,000 after buying an additional 20,710 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Adaptive Biotechnologies in the first quarter worth $71,000. Pinnacle Wealth Planning Services Inc. bought a new position in shares of Adaptive Biotechnologies in the first quarter worth $46,000. Vanguard Group Inc. raised its stake 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 valued at $41,312,000 after purchasing an additional 102,134 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Adaptive Biotechnologies during the 1st quarter valued at $519,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Trading Down 8.6 %

The firm has a market cap of $874.50 million, a PE ratio of -4.43 and a beta of 1.45. The business has a fifty day moving average of $4.88 and a 200-day moving average of $4.21.

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.