Adaptive Biotechnologies (NASDAQ:ADPT) Sets New 52-Week High – Should You Buy?

Adaptive Biotechnologies Co. (NASDAQ:ADPT) hit a new 52-week high on Wednesday . The company traded as high as $5.80 and last traded at $5.66, with a volume of 103179 shares traded. The stock had previously closed at $5.58.

Wall Street Analysts Forecast Growth

ADPT has been the subject of a number of research analyst reports. BTIG Research lifted their price objective on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. upped their target price on Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Adaptive Biotechnologies has a consensus rating of “Moderate Buy” and an average target price of $6.25.

Adaptive Biotechnologies Stock Performance

The stock has a fifty day simple moving average of $4.74 and a two-hundred day simple moving average of $4.09. The stock has a market cap of $847.96 million, a price-to-earnings ratio of -3.80 and a beta of 1.45.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of large investors have recently modified their holdings of the business. JTC Employer Solutions Trustee Ltd acquired a new position in Adaptive Biotechnologies in the 3rd quarter worth about $26,000. Manchester Capital Management LLC acquired a new position in Adaptive Biotechnologies in the 1st quarter worth about $32,000. Ashton Thomas Securities LLC acquired a new position in Adaptive Biotechnologies in the 3rd quarter worth about $34,000. Rothschild Investment LLC acquired a new stake in shares of Adaptive Biotechnologies in the second quarter valued at about $36,000. Finally, MQS Management LLC acquired a new stake in shares of Adaptive Biotechnologies in the second quarter valued at about $36,000. Institutional investors and hedge funds 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.