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Let’s Discuss The Adaptive Biotechnologies Corporation (NASDAQ: ADPT) Stock Forecast.

In the last trading session, 1.2 million shares of the Adaptive Biotechnologies Corporation (NASDAQ:ADPT) were traded, and its beta was 1.18. Most recently the company’s share price was $6.54, and it changed around $0.17 or 2.67% from the last close, which brings the market valuation of the company to $930.31M. ADPT currently trades at a discount to its 52-week high of $13.21, offering almost -101.99% off that amount. The share price’s 52-week low was $5.95, which indicates that the current value has risen by an impressive 9.02% since then. We note from Adaptive Biotechnologies Corporation’s average daily trading volume that its 10-day average is 0.89 million shares, with the 3-month average coming to 842.20K.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) trade information

Instantly ADPT has showed a green trend with a performance of 2.67% 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 6.68 on Tuesday, 05/23/23 increased the stock’s daily price by 2.1%. The company’s shares are currently down -14.40% year-to-date, but still up 5.48% over the last five days. On the other hand, Adaptive Biotechnologies Corporation (NASDAQ:ADPT) is -20.73% up in the 30-day period. We can see from the shorts that 6.09 million shares have been sold at a short interest cover period of 7.59 day(s).

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Adaptive Biotechnologies Corporation (ADPT) estimates 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 -19.85 percent over the past six months and at a 14.29% annual growth rate that is well above the industry average of 11.20%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 5.40% in revenue this quarter, and will report an increase of 12.50% in the next quarter. The year-over-year growth rate is expected to be 12.00%, up from the previous year.

Consensus estimates provided by 9 financial analysts predict the company will bring in an average of $45.04 million in revenue for the current quarter. 9 analysts expect Adaptive Biotechnologies Corporation to make $54.21 million in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $43.66 million and $48.03 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 3.20%. Forecasts for the next quarter put sales growth at 12.90%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -31.30%. Adaptive Biotechnologies Corporation earnings are expected to increase by 4.90% in 2023, but the outlook is positive 21.60% per year for the next five years.

ADPT Dividends

Adaptive Biotechnologies Corporation’s next quarterly earnings report is expected to be released around August 01 and August 07.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 2.30% of Adaptive Biotechnologies Corporation shares, and 91.26% of them are in the hands of institutional investors. The stock currently has a share float of 93.40%. Adaptive Biotechnologies Corporation stock is held by 316 institutions, with Viking Global Investors, L.P. being the largest institutional investor. By Mar 30, 2023, it held 20.78% of the shares, which is about 29.99 million shares worth $196.16 million.

Vanguard Group, Inc. (The), with 8.30% or 11.98 million shares worth $78.33 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

ARK ETF Tr-ARK Genomic Revolution ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Mar 30, 2023. The former held 9.13 million shares worth $59.7 million, making up 6.37% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 3.86 million shares worth around $25.24 million, which represents about 2.69% of the total shares outstanding.

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