Can Adaptive Biotechnologies Corp (NASDAQ: ADPT) Shares Make A Higher Price Run?

In the last trading session, 2.34 million shares of the Adaptive Biotechnologies Corp (NASDAQ:ADPT) were traded, and its beta was 1.30. Most recently the company’s share price was $2.40, and it changed around $0.06 or 2.78% from the last close, which brings the market valuation of the company to $348.22M. ADPT currently trades at a discount to its 52-week high of $9.08, offering almost -278.33% off that amount. The share price’s 52-week low was $2.33, which indicates that the current value has risen by an impressive 2.92% since then. We note from Adaptive Biotechnologies Corp’s average daily trading volume that its 3-month average coming to 1.63 million.

Adaptive Biotechnologies Corp (NASDAQ:ADPT) trade information

Instantly ADPT has showed a green trend with a performance of 2.78% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -51.02% year-to-date, but still down -20.27% over the last five days. On the other hand, Adaptive Biotechnologies Corp (NASDAQ:ADPT) is -28.99% down in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $12.33, which translates to bulls needing to increase their stock price by 80.54% from its current value. Analyst projections state that ADPT is forecast to be at a low of $5 and a high of $18.

Adaptive Biotechnologies Corp (ADPT) estimates and forecasts

Adaptive Biotechnologies Corp share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -42.17 percent over the past six months and at a 5.07% annual growth rate that is well below the industry average of 13.30%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -32.91%. Adaptive Biotechnologies Corp earnings are expected to increase by 16.01% in 2024, but the outlook is positive 21.60% per year for the next five years.