Adaptive Biotechnologies (NASDAQ:ADPT) Trading 9.8% Higher – Here’s Why

Adaptive Biotechnologies Co. (NASDAQ:ADPT) rose 9.8% on Wednesday . The company traded as high as $8.11 and last traded at $8.10. Approximately 1,182,088 shares traded hands during trading, a decline of 19% from the average daily volume of 1,462,168 shares. The stock had previously closed at $7.37.

Analysts Set New Price Targets

ADPT has been the topic of a number of analyst reports. 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. Piper Sandler boosted their target price on Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group lifted their price target on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th.

Adaptive Biotechnologies Stock Down 2.1 %

The company has a market cap of $1.16 billion, a PE ratio of -5.85 and a beta of 1.49. The business has a 50-day simple moving average of $6.80 and a 200-day simple moving average of $5.49.

Institutional Trading of Adaptive Biotechnologies

Large investors have recently modified their holdings of the stock. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of Adaptive Biotechnologies during the third quarter worth $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Adaptive Biotechnologies during the third quarter worth $34,000. KBC Group NV acquired a new position in shares of Adaptive Biotechnologies during the fourth quarter worth $50,000. GAMMA Investing LLC acquired a new position in Adaptive Biotechnologies in the fourth quarter valued at $59,000. Finally, Townsquare Capital LLC acquired a new position in Adaptive Biotechnologies in the third quarter valued at $56,000. Hedge funds and other 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.