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Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Is Likely To Perform Well Over The Long Term. Lost Nearly -2.57% Last Month.

In last trading session, Adaptive Biotechnologies Corporation (NASDAQ:ADPT) saw 1.4 million shares changing hands with its beta currently measuring 1.21. Company’s recent per share price level of $6.06 trading at -$0.15 or -2.42% at ring of the bell on the day assigns it a market valuation of $920.39M. That closing price of ADPT’s stock is at a discount of -78.05% from its 52-week high price of $10.79 and is indicating a premium of 1.65% from its 52-week low price of $5.96. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.06 million shares which gives us an average trading volume of 1.15 million if we extend that period to 3-months.

For Adaptive Biotechnologies Corporation (ADPT), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.10. Splitting up the data highlights that, out of 10 analysts covering the stock, 1 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 2 suggested the stock as a Hold whereas 7 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.33 in the current quarter.

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Adaptive Biotechnologies Corporation (NASDAQ:ADPT) trade information

Upright in the red during last session for losing -2.42%, in the last five days ADPT remained trading in the green while hitting it’s week-highest on Wednesday, 09/13/23 when the stock touched $6.06 price level, adding 11.66% to its value on the day. Adaptive Biotechnologies Corporation’s shares saw a change of -20.68% in year-to-date performance and have moved 1.00% in past 5-day. Adaptive Biotechnologies Corporation (NASDAQ:ADPT) showed a performance of -2.57% in past 30-days. Number of shares sold short was 10.41 million shares which calculate 7.82 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $11.88 to the stock, which implies a rise of 48.99% to its current value. Analysts have been projecting $7.00 as a low price target for the stock while placing it at a high target of $15.00. It follows that stock’s current price would drop -147.52% in reaching the projected high whereas dropping to the targeted low would mean a loss of -15.51% for stock’s current value.

Adaptive Biotechnologies Corporation (ADPT) estimates and forecasts

Statistics highlight that Adaptive Biotechnologies Corporation is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -27.86% of value to its shares in past 6 months, showing an annual growth rate of 13.57% while that of industry is 12.00. Apart from that, the company came raising its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to decrease by -3.10% in the current quarter and calculating 39.30% increase in the next quarter. This year revenue growth is estimated to rise 11.30% from the last financial year’s standing.

9 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $43.8 million for the same. And 9 analysts are in estimates of company making revenue of $75.39 million in the next quarter that will end on Dec 2023. Company posted $48.03 million and $55.2 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -8.80% while estimating it to be 36.60% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -31.30% during past 5 years. In 2023, company’s earnings growth rate is likely to be around 4.90% while estimates for its earnings growth in next 5 years are of 21.60%.

ADPT Dividends

Adaptive Biotechnologies Corporation is more likely to be releasing its next quarterly report in October and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

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

Insiders are in possession of 1.80% of company’s total shares while institution are holding 91.84 percent of that, with stock having share float percentage of 93.52%. Investors also watch the number of corporate investors in a company very closely, which is 91.84% institutions for Adaptive Biotechnologies Corporation that are currently holding shares of the company. Viking Global Investors, L.P. is the top institutional holder at ADPT for having 29.99 million shares of worth $201.26 million. And as of Jun 29, 2023, it was holding 20.74% of the company’s outstanding shares.

The second largest institutional holder is Vanguard Group Inc, which was holding about 12.05 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 8.33% of outstanding shares, having a total worth of $80.87 million.

On the other hand, ARK ETF Tr-ARK Genomic Revolution ETF and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Aug 30, 2023, the former fund manager was holding 11.69 million shares of worth $79.12 million or 8.08% of the total outstanding shares. The later fund manager was in possession of 3.94 million shares on Jun 29, 2023, making its stake of worth around $26.43 million in the company or a holder of 2.72% of company’s stock.

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