Adaptive Biotechnologies (NASDAQ:ADPT) Given New $9.00 Price Target at BTIG Research

Adaptive Biotechnologies (NASDAQ:ADPT) had its target price upped by BTIG Research from $8.00 to $9.00 in a report issued on Wednesday morning,Benzinga reports. BTIG Research currently has a buy rating on the stock.

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

Adaptive Biotechnologies Price Performance

ADPT stock opened at $5.97 on Wednesday. The stock has a market capitalization of $881.05 million, a P/E ratio of -4.46 and a beta of 1.49. Adaptive Biotechnologies has a fifty-two week low of $2.28 and a fifty-two week high of $7.07. The business has a 50-day moving average of $5.45 and a 200-day moving average of $4.64.

Institutional Trading of Adaptive Biotechnologies

Several institutional investors and hedge funds have recently bought and sold shares of ADPT. Rubric Capital Management LP grew its stake in Adaptive Biotechnologies by 2.9% in the third quarter. Rubric Capital Management LP now owns 14,400,000 shares of the company’s stock valued at $73,728,000 after purchasing an additional 400,000 shares in the last quarter. ARK Investment Management LLC increased its stake in shares of Adaptive Biotechnologies by 1.7% during the third quarter. ARK Investment Management LLC now owns 11,601,134 shares of the company’s stock worth $59,398,000 after purchasing an additional 189,134 shares during the period. Millennium Management LLC increased its position in Adaptive Biotechnologies by 1,008.3% during the second quarter. Millennium Management LLC now owns 9,262,341 shares of the company’s stock worth $33,530,000 after acquiring an additional 8,426,580 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in Adaptive Biotechnologies by 12.1% in the 3rd 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Adaptive Biotechnologies by 50.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,912,027 shares of the company’s stock valued at $14,162,000 after purchasing an additional 1,319,709 shares during the period. Institutional investors 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.