Adaptive Biotechnologies (NASDAQ:ADPT) Stock Price Up 7.1% – What’s Next?

Adaptive Biotechnologies Co. (NASDAQ:ADPT) shares were up 7.1% on Tuesday . The company traded as high as $7.26 and last traded at $7.29. Approximately 99,618 shares traded hands during trading, a decline of 93% from the average daily volume of 1,512,606 shares. The stock had previously closed at $6.81.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Piper Sandler upped their target price on Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an “overweight” rating in a report on Monday, November 11th. BTIG Research raised their target price on Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th.

Adaptive Biotechnologies Stock Up 8.0 %

The stock has a market cap of $1.09 billion, a P/E ratio of -5.49 and a beta of 1.47. The business’s 50-day simple moving average is $6.13 and its two-hundred day simple moving average is $5.15.

Institutional Investors Weigh In On Adaptive Biotechnologies

Several institutional investors have recently made changes to their positions in the stock. JTC Employer Solutions Trustee Ltd bought a new stake in shares of Adaptive Biotechnologies during the 3rd quarter valued at $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Adaptive Biotechnologies during the third quarter valued at about $34,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Adaptive Biotechnologies in the second quarter worth about $49,000. Townsquare Capital LLC bought a new position in shares of Adaptive Biotechnologies in the third quarter valued at approximately $56,000. Finally, GAMMA Investing LLC purchased a new position in Adaptive Biotechnologies during the fourth quarter valued at approximately $59,000. 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.