In the last trading session, 1,230,176 shares of the Adaptive Biotechnologies Corporation (NASDAQ:ADPT) were traded, and its beta was 0. Most recently the company’s share price was $42.51, and it changed around $1.42 or 0.03% from the last close, which brings the market valuation of the company to $5.92 Billion. ADPT currently trades at a discount to its 52-week high of $71.25, offering almost -67.61% off that amount. The share price’s 52-week low was $23.68, which indicates that the current value has risen by an impressive 44.3% since then. We note from Adaptive Biotechnologies Corporation’s average daily trading volume that its 10-day average is 865.33 Million shares, with the 3-month average coming to 1.03 Million.
Adaptive Biotechnologies Corporation stock received a consensus recommendation rating of Overweight, based on a mean score of 1.7. If we narrow it down even further, the data shows that none out of 8 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 2 recommended ADPT as a Hold, whereas 6 deemed it a Buy, and no one rated it as Underweight. Adaptive Biotechnologies Corporation is expected to report earnings per share of -$0.41 for the current quarter.
Adaptive Biotechnologies Corporation (NASDAQ:ADPT): Trading Information
Instantly ADPT has showed a green trend with a performance of 3.46% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $43.54 on Tuesday, Apr 06 increased the stock’s daily price by 2.37%. The company’s shares are currently down -0.28% year-to-date, but still up 0.1409 over the last five days. On the other hand, Adaptive Biotechnologies Corporation (NASDAQ:ADPT) is 0.01% up in the 30-day period. We can see from the shorts that 3.81 Million shares have been sold at a short interest cover period of 3.7 day (s).
The consensus price target as assigned by Wall Street analysts is $66, which translates to bears needing to increase their stock price by 55.26% from its current value. Analyst projections state that ADPT is forecast to be at a low of $60 and a high of $74. In order for the stock price to hit the forecast high, the stock would need to surge +74.08% from its current level, while the stock would need to crash 41.14% from its current level to reach the projected low.
Adaptive Biotechnologies Corporation (ADPT) projections and forecasts
Adaptive Biotechnologies Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -11.95 percent over the past six months and at a 61.26% annual growth rate that is well above the industry average of 8.2%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -64% in revenue this quarter, and will report a decline of -69.2% in the next quarter. The year-over-year growth rate is expected to be 52.4%, up from the previous year.
Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $27.75 Million in revenue for the current quarter. 7 analysts expect Adaptive Biotechnologies Corporation to make $32.08 Million in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarter a year ago was $21.53 Million. Analysts predict that the company’s current quarter sales will jump, forecast at 28.9%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of 0%. Adaptive Biotechnologies Corporation earnings are expected to decrease by -100.6% in 2021, but the outlook is positive 8.2% per year for the next five years.
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Adaptive Biotechnologies Corporation (NASDAQ:ADPT)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 5.24% of Adaptive Biotechnologies Corporation shares, and 82.55% of them are in the hands of institutional investors. The stock currently has a share float of 87.12%. Adaptive Biotechnologies Corporation stock is held by 374 institutions, with Viking Global Investors, L.P. being the largest institutional investor. By Dec 30, 2020, it held 21.54% of the shares, which is about 29.99 Million shares worth $1.77 Billion.
Matrix Capital Management, with 9.42% or 13.12 Million shares worth $775.5 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Price (T.Rowe) New Horizons Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Dec 30, 2020. The former held 3426979 shares worth $202.64 Million, making up 2.46% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 3.26 Million shares worth around $193.01 Million, which represents about 2.34% of the total shares outstanding.