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

Adaptive Biotechnologies (NASDAQ:ADPT) had its price objective boosted by stock analysts at The Goldman Sachs Group from $5.50 to $7.50 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential downside of 3.05% from the company’s current price.

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

Adaptive Biotechnologies Price Performance

Shares of ADPT traded up $0.04 during trading hours on Tuesday, hitting $7.74. The company’s stock had a trading volume of 126,820 shares, compared to its average volume of 1,604,504. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -5.77 and a beta of 1.47. The business has a 50 day simple moving average of $6.37 and a two-hundred day simple moving average of $5.30. Adaptive Biotechnologies has a 52-week low of $2.28 and a 52-week high of $8.33.

Hedge Funds Weigh In On Adaptive Biotechnologies

Hedge funds have recently bought and sold shares of the company. American Century Companies Inc. lifted its position in Adaptive Biotechnologies by 18.3% during the second quarter. American Century Companies Inc. now owns 45,562 shares of the company’s stock valued at $165,000 after purchasing an additional 7,039 shares during the last quarter. Renaissance Technologies LLC lifted its position in Adaptive Biotechnologies by 188.7% during the second quarter. Renaissance Technologies LLC now owns 151,800 shares of the company’s stock valued at $550,000 after purchasing an additional 99,217 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in Adaptive Biotechnologies during the second quarter valued at approximately $81,000. AQR Capital Management LLC lifted its position in Adaptive Biotechnologies by 244.4% during the second quarter. AQR Capital Management LLC now owns 182,076 shares of the company’s stock valued at $635,000 after purchasing an additional 129,201 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Adaptive Biotechnologies by 1,008.3% during the second 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 last quarter. 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.