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

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

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

Adaptive Biotechnologies Stock Performance

Adaptive Biotechnologies stock opened at $5.58 on Monday. The stock’s 50 day simple moving average is $4.91 and its two-hundred day simple moving average is $4.22. The stock has a market cap of $823.49 million, a price-to-earnings ratio of -4.14 and a beta of 1.45. Adaptive Biotechnologies has a fifty-two week low of $2.28 and a fifty-two week high of $6.70.

Hedge Funds Weigh In On Adaptive Biotechnologies

Hedge funds have recently added to or reduced their stakes in the company. JTC Employer Solutions Trustee Ltd purchased a new position in Adaptive Biotechnologies in the 3rd quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new stake in Adaptive Biotechnologies in the 3rd quarter worth approximately $34,000. Rothschild Investment LLC bought a new stake in Adaptive Biotechnologies in the 2nd quarter worth approximately $36,000. MQS Management LLC bought a new stake in Adaptive Biotechnologies in the 2nd quarter worth approximately $36,000. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in Adaptive Biotechnologies in the 1st quarter worth approximately $46,000. 99.17% of the stock is currently owned by hedge funds and other 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.