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

Adaptive Biotechnologies (NASDAQ:ADPT) had its target price upped 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.

ADPT has been the subject of several other reports. BTIG Research raised their price target on 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. raised 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.

Adaptive Biotechnologies Stock Up 11.5 %

Adaptive Biotechnologies stock opened at $6.49 on Monday. Adaptive Biotechnologies has a twelve month low of $2.28 and a twelve month high of $6.70. The stock has a 50 day moving average of $4.85 and a two-hundred day moving average of $4.19.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Intech Investment Management LLC acquired a new position in Adaptive Biotechnologies during the third quarter worth $176,000. Jennison Associates LLC raised its holdings in Adaptive Biotechnologies by 30.3% during the third quarter. Jennison Associates LLC now owns 231,531 shares of the company’s stock worth $1,185,000 after purchasing an additional 53,908 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Adaptive Biotechnologies by 12.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,733,884 shares of the company’s stock worth $39,597,000 after purchasing an additional 834,253 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Adaptive Biotechnologies during the third quarter worth $247,000. Finally, Ashton Thomas Securities LLC acquired a new position in Adaptive Biotechnologies during the third quarter worth $34,000. 99.17% of the stock is owned by institutional investors and hedge funds.

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.