Adaptive Biotechnologies (NASDAQ:ADPT) Stock Price Expected to Rise, Piper Sandler Analyst Says

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

A number of other equities research analysts also recently commented on the company. 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 price objective on Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd.

Adaptive Biotechnologies Price Performance

Adaptive Biotechnologies stock opened at $6.49 on Monday. The stock has a fifty day moving average of $4.85 and a two-hundred day moving average of $4.19. Adaptive Biotechnologies has a fifty-two week low of $2.28 and a fifty-two week high of $6.70.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in shares of Adaptive Biotechnologies by 48.8% during the first quarter. BNP Paribas Financial Markets now owns 63,141 shares of the company’s stock worth $203,000 after purchasing an additional 20,710 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Adaptive Biotechnologies during the first quarter worth about $71,000. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Adaptive Biotechnologies during the first quarter worth about $46,000. Vanguard Group Inc. lifted its stake in shares of Adaptive Biotechnologies by 0.8% during the first 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 in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Adaptive Biotechnologies during the first quarter worth about $519,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

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.