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

Adaptive Biotechnologies (NASDAQ:ADPT - Free Report) had its target price lifted by The Goldman Sachs Group from $5.50 to $7.50 in a report released on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

ADPT has been the subject of several other research reports. Piper Sandler increased their target price on Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an "overweight" rating in a research report on Monday, November 11th. BTIG Research boosted their target price on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a "buy" rating in a report on Wednesday, December 18th.

Adaptive Biotechnologies Stock Performance

ADPT stock traded up $0.15 on Tuesday, reaching $7.85. The company's stock had a trading volume of 754,627 shares, compared to its average volume of 1,643,049. The business has a fifty day simple moving average of $6.44 and a two-hundred day simple moving average of $5.33. The firm has a market cap of $1.16 billion, a PE ratio of -5.86 and a beta of 1.47. Adaptive Biotechnologies has a 12-month low of $2.28 and a 12-month high of $8.33.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of institutional investors have recently made changes to their positions in the company. JTC Employer Solutions Trustee Ltd purchased a new stake in Adaptive Biotechnologies during the 3rd quarter valued at $26,000. Ashton Thomas Securities LLC bought a new position in shares of Adaptive Biotechnologies during the third quarter valued at $34,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Adaptive Biotechnologies during the second quarter valued at $49,000. KBC Group NV bought a new stake in Adaptive Biotechnologies in the 4th quarter worth about $50,000. Finally, Townsquare Capital LLC purchased a new position in Adaptive Biotechnologies in the 3rd quarter worth about $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.