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

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

Separately, Piper Sandler boosted their target price 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

Shares of Adaptive Biotechnologies stock opened at $5.97 on Wednesday. The firm has a market capitalization of $881.05 million, a PE ratio of -4.46 and a beta of 1.49. Adaptive Biotechnologies has a 52-week low of $2.28 and a 52-week high of $7.07. The company’s fifty day moving average price is $5.45 and its two-hundred day moving average price is $4.64.

Institutional Trading of Adaptive Biotechnologies

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