The Goldman Sachs Group Increases Adaptive Biotechnologies (NASDAQ:ADPT) Price Target to $7.50

Adaptive Biotechnologies (NASDAQ:ADPT) had its price target raised by analysts at The Goldman Sachs Group from $5.50 to $7.50 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential downside of 2.72% from the company’s current price.

ADPT has been the topic of a number of other reports. BTIG Research increased their target price 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. Piper Sandler increased their price objective on 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 Stock Performance

Shares of ADPT opened at $7.71 on Tuesday. The company’s 50-day simple moving average is $6.50 and its 200-day simple moving average is $5.35. Adaptive Biotechnologies has a 1 year low of $2.28 and a 1 year high of $8.33. The stock has a market capitalization of $1.14 billion, a PE ratio of -5.75 and a beta of 1.47.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Adaptive Biotechnologies in the 3rd quarter valued at $26,000. Ashton Thomas Securities LLC acquired a new stake in Adaptive Biotechnologies in the third quarter valued at $34,000. B. Riley Wealth Advisors Inc. purchased a new stake in Adaptive Biotechnologies during the 2nd quarter worth about $49,000. KBC Group NV acquired a new position in shares of Adaptive Biotechnologies during the 4th quarter worth about $50,000. Finally, Townsquare Capital LLC purchased a new position in shares of Adaptive Biotechnologies in the 3rd quarter valued at about $56,000. 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.