In the last trading session, 1.71 million shares of the Adaptive Biotechnologies Corp (NASDAQ:ADPT) were traded, and its beta was 1.44. Most recently the company’s share price was $4.48, and it changed around -$0.2 or -4.27% from the last close, which brings the market valuation of the company to $661.15M. ADPT currently trades at a discount to its 52-week high of $6.70, offering almost -49.55% off that amount. The share price’s 52-week low was $2.28, which indicates that the current value has risen by an impressive 49.11% since then. We note from Adaptive Biotechnologies Corp’s average daily trading volume that its 10-day average is 1.31 million shares, with the 3-month average coming to 1.04 million.
Adaptive Biotechnologies Corp stock received a consensus recommendation rating of Buy, based on a mean score of 1.50. If we narrow it down even further, the data shows that 0 out of 9 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 2 recommended ADPT as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. Adaptive Biotechnologies Corp is expected to report earnings per share of -0.24 for the current quarter.
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Adaptive Biotechnologies Corp (NASDAQ:ADPT) trade information
Instantly ADPT has showed a red trend with a performance of -4.27% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 6.08 on recent trading dayincreased the stock’s daily price by 26.32%. The company’s shares are currently down -8.57% year-to-date, but still down -24.45% over the last five days. On the other hand, Adaptive Biotechnologies Corp (NASDAQ:ADPT) is -1.54% down in the 30-day period. We can see from the shorts that 8.96 million shares have been sold at a short interest cover period of 9.71 day(s).
The consensus price target as assigned by Wall Street analysts is $14, which translates to bulls needing to increase their stock price by 68.0% 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 risen 28.37 percent over the past six months and at a 16.67% annual growth rate that is well below the industry average of 17.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 19.88% in revenue this quarter, and will report an increase of 16.85% in the next quarter. The year-over-year growth rate is expected to be 4.34%, up from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of 45.84M in revenue for the current quarter. 6 analysts expect Adaptive Biotechnologies Corp to make 46.47M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 45.78M and 41.87M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 0.13%. Forecasts for the next quarter put sales growth at 10.97%.
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 28.53% in 2024, but the outlook is positive 21.60% per year for the next five years.
ADPT Dividends
Adaptive Biotechnologies Corp’s next quarterly earnings report is expected to be released in December.
Adaptive Biotechnologies Corp (NASDAQ:ADPT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.93% of Adaptive Biotechnologies Corp shares, and 93.97% of them are in the hands of institutional investors. The stock currently has a share float of 95.82%. Adaptive Biotechnologies Corp stock is held by 251.0 institutions, with VIKING GLOBAL INVESTORS LP being the largest institutional investor. By 2024-06-30, it held 20.5736% of the shares, which is about 29.99 million shares worth $108.58 million.
RUBRIC CAPITAL MANAGEMENT LP, with 9.603% or 14.0 million shares worth $50.68 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
