Piper Sandler Forecasts Strong Price Appreciation for Adaptive Biotechnologies (NASDAQ:ADPT) Stock

Adaptive Biotechnologies (NASDAQ:ADPT - Free Report) had its price target hoisted by Piper Sandler from $6.00 to $7.00 in a research report sent to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms have also commented on ADPT. BTIG Research lifted their target price on Adaptive Biotechnologies from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an "overweight" rating in a report on Friday, August 2nd.

Adaptive Biotechnologies Stock Up 11.2 %

Shares of ADPT traded up $0.65 during trading hours on Monday, reaching $6.47. 1,444,104 shares of the company traded hands, compared to its average volume of 1,408,711. The company's fifty day moving average price is $4.81 and its two-hundred day moving average price is $4.16. The company has a market capitalization of $954.13 million, a price-to-earnings ratio of -4.32 and a beta of 1.45. Adaptive Biotechnologies has a 12 month low of $2.28 and a 12 month high of $6.70.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.30) by $0.08. Adaptive Biotechnologies had a negative return on equity of 60.99% and a negative net margin of 126.49%. The business had revenue of $46.44 million during the quarter, compared to the consensus estimate of $40.59 million. On average, analysts expect that Adaptive Biotechnologies will post -1.19 EPS for the current year.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Adaptive Biotechnologies by 5.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,834 shares of the company's stock worth $177,000 after purchasing an additional 2,710 shares during the period. Vontobel Holding Ltd. boosted its holdings in Adaptive Biotechnologies by 30.8% in the third quarter. Vontobel Holding Ltd. now owns 17,000 shares of the company's stock valued at $87,000 after purchasing an additional 4,000 shares during the last quarter. JTC Employer Solutions Trustee Ltd purchased a new stake in Adaptive Biotechnologies during the third quarter worth $26,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in Adaptive Biotechnologies by 29.5% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 25,576 shares of the company's stock worth $131,000 after acquiring an additional 5,826 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Adaptive Biotechnologies during the 3rd quarter worth about $34,000. 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.