In the last trading session, 1.42 million Adaptive Biotechnologies Corp (NASDAQ:ADPT) shares changed hands as the company’s beta touched 1.21. With the company’s per share price at $4.31 changed hands at $0.28 or 6.95% during last session, the market valuation stood at $623.96M. ADPT’s last price was a discount, traded about -150.35% off its 52-week high of $10.79. The share price had its 52-week low at $2.61, which suggests the last value was 39.44% up since then. When we look at Adaptive Biotechnologies Corp’s average trading volume, we note the 10-day average is 2.36 million shares, with the 3-month average coming to 1.55 million.
Analysts gave the Adaptive Biotechnologies Corp (ADPT) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.50. If we narrow down to specifics, the data shows that 0 out of 8 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 2 recommended ADPT as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. Adaptive Biotechnologies Corp’s EPS for the current quarter is expected to be -$0.28.
Adaptive Biotechnologies Corp (NASDAQ:ADPT) trade information
Instantly ADPT was in green as seen at the end of in last trading. With action 22.79%, the performance over the past five days has been green. The jump to weekly highs of 4.51 on Friday, 11/17/23 added 6.95% to the stock’s daily price. The company’s shares are showing year-to-date downside of -43.59%, with the 5-day performance at 22.79% in the green. However, in the 30-day time frame, Adaptive Biotechnologies Corp (NASDAQ:ADPT) is 5.64% up. Looking at the short shares, we see there were 10.74 million shares sold at short interest cover period of 7.9 days.
The consensus price target for the stock as assigned by Wall Street analysts is $9.17, meaning bulls need an upside of 53.0% from its current market value. According to analyst projections, ADPT’s forecast low is $6.00 with $11.00 as the target high. To hit the forecast high, the stock’s price needs a -155.22% plunge from its current level, while the stock would need to soar -39.21% for it to hit the projected low.
Adaptive Biotechnologies Corp (ADPT) estimates and forecasts
Data shows that the Adaptive Biotechnologies Corp share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -31.37% over the past 6 months, a 5.71% in annual growth rate that is considerably lower than the industry average of 14.90%. Year-over-year growth is forecast to reach -3.80% down from the last financial year.
Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $54.01 million. 7 analysts are of the opinion that Adaptive Biotechnologies Corp’s revenue for the quarter ending Mar 2024 will be $46.93 million. The company’s revenue for the corresponding quarters a year ago was $55.2 million and $37.65 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -2.20%. The estimates for the next quarter sales put growth at 24.70%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -32.30%. The 2023 estimates are for Adaptive Biotechnologies Corp earnings to increase by 1.71%, but the outlook for the next 5-year period is at 21.60% per year.
Adaptive Biotechnologies Corp is expected to release its next quarterly earnings report between February 12 and February 16.
Adaptive Biotechnologies Corp (NASDAQ:ADPT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.80% of Adaptive Biotechnologies Corp shares while 91.84% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 93.52%. There are 91.84% institutions holding the Adaptive Biotechnologies Corp stock share, with Viking Global Investors, L.P. the top institutional holder. As of Jun 29, 2023, the company held 20.74% of the shares, roughly 29.99 million ADPT shares worth $201.26 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 8.33% or 12.05 million shares worth $80.87 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Sep 29, 2023 were ARK ETF Tr-ARK Genomic Revolution ETF and Vanguard Total Stock Market Index Fund. With 11.41 million shares estimated at $62.17 million under it, the former controlled 7.89% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.72% of the shares, roughly 3.94 million shares worth around $26.43 million.