BTIG Research Forecasts Strong Price Appreciation for Adaptive Biotechnologies (NASDAQ:ADPT) Stock

Adaptive Biotechnologies (NASDAQ:ADPT) had its price objective lifted by equities researchers at BTIG Research from $8.00 to $9.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective suggests a potential upside of 40.41% from the company’s current price.

Separately, Piper Sandler upped their price target on Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday, November 11th.

Adaptive Biotechnologies Stock Down 1.7 %

NASDAQ:ADPT traded down $0.11 on Wednesday, reaching $6.41. 237,265 shares of the company’s stock were exchanged, compared to its average volume of 1,406,958. The firm has a market capitalization of $945.98 million, a price-to-earnings ratio of -4.78 and a beta of 1.49. The business has a fifty day moving average of $5.40 and a 200-day moving average of $4.61. Adaptive Biotechnologies has a 52-week low of $2.28 and a 52-week high of $7.07.

Institutional Trading of Adaptive Biotechnologies

Institutional investors have recently modified their holdings of the stock. JTC Employer Solutions Trustee Ltd acquired a new position in shares of Adaptive Biotechnologies in the 3rd quarter valued at $26,000. Ashton Thomas Securities LLC purchased a new position in shares of Adaptive Biotechnologies during the third quarter worth about $34,000. MQS Management LLC purchased a new position in shares of Adaptive Biotechnologies during the second quarter worth about $36,000. Rothschild Investment LLC purchased a new stake in Adaptive Biotechnologies during the 2nd quarter valued at approximately $36,000. Finally, Townsquare Capital LLC purchased a new position in shares of Adaptive Biotechnologies in the 3rd quarter valued at approximately $56,000. 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.