Adaptive Biotechnologies (NASDAQ:ADPT) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Adaptive Biotechnologies (NASDAQ:ADPT) had its price target boosted by equities research analysts at The Goldman Sachs Group from $5.50 to $7.50 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target points to a potential downside of 3.05% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Piper Sandler boosted their price objective on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. BTIG Research boosted their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th.

Adaptive Biotechnologies Trading Up 0.5 %

Shares of ADPT traded up $0.04 during mid-day trading on Tuesday, reaching $7.74. The company’s stock had a trading volume of 126,820 shares, compared to its average volume of 1,604,504. The stock has a market cap of $1.14 billion, a PE ratio of -5.77 and a beta of 1.47. Adaptive Biotechnologies has a 52 week low of $2.28 and a 52 week high of $8.33. The company’s fifty day moving average price is $6.37 and its two-hundred day moving average price is $5.30.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ADPT. JTC Employer Solutions Trustee Ltd purchased a new position in shares of Adaptive Biotechnologies in the third quarter worth $26,000. Ashton Thomas Securities LLC purchased a new position in Adaptive Biotechnologies during the 3rd quarter valued at $34,000. B. Riley Wealth Advisors Inc. purchased a new position in Adaptive Biotechnologies during the 2nd quarter valued at $49,000. KBC Group NV purchased a new position in Adaptive Biotechnologies during the 4th quarter valued at $50,000. Finally, Townsquare Capital LLC purchased a new position in Adaptive Biotechnologies during the 3rd quarter valued at $56,000. 99.17% of the stock is owned by hedge funds and other institutional investors.

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.