Shares of Adaptive Biotechnologies Corp (NASDAQ: ADPT) surged more than 12% in pre-market trading on Thursday, following a positive analyst report from TD Cowen. The biotechnology company, which specializes in immune medicine, received a reiterated "Buy" rating from analyst Daniel Brennan.
In his report, Brennan highlighted Adaptive Biotechnologies' potential for growth and innovation in the field of immune-driven medicine. The analyst's optimism likely contributed to the significant pre-market rally in the company's stock price.
While the specific details of Brennan's report were not disclosed, his reiteration of a "Buy" rating suggests confidence in the company's prospects and future performance. Analyst upgrades and positive coverage can often drive short-term stock movements, as investors react to the revised expectations and valuations.
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