Adaptive Biotechnologies Corporation [NASDAQ: ADPT] jumped around 1.52 points on Monday, while shares priced at $37.85 at the close of the session, up 4.18%. The company report on July 15, 2020 that Adaptive Biotechnologies Announces Pricing of Public Offering of Common Stock.
Adaptive Biotechnologies Corporation (Nasdaq: ADPT), a commercial stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, announced today the pricing of an underwritten public offering of 8,000,000 shares of its common stock at a public offering price of $40.00 per share, before deducting underwriting discounts and commissions (6,000,000 of which are being sold by Adaptive and 2,000,000 of which are being sold by a selling shareholder). In addition, Adaptive granted the underwriters a 30-day option to purchase up to 1,200,000 additional shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering to Adaptive, before deducting the underwriting discounts and commissions, are expected to be $240 million. The offering is expected to close on July 20, 2020, subject to customary closing conditions.
Adaptive intends to use the net proceeds from the offering, after deducting underwriting discounts and commissions payable by Adaptive, primarily to accelerate investments in Adaptive’s TCR-Antigen Map activities, scale commercial and marketing activities associated with immunoSEQ Dx clinical products and services, and support continued research and development for drug discovery initiatives. A portion of the net proceeds may also be used to scale Adaptive’s laboratory operations, capacity to support commercial growth plans and for working capital and other general corporate purposes. Adaptive will not receive any of the proceeds from the sale of the shares of its common stock being offered by the selling shareholder.
Adaptive Biotechnologies Corporation stock is now 26.50% up from its year-to-date (YTD) trading value. ADPT Stock saw the intraday high of $37.99 and lowest of $36.27 per share. The company’s 52-week high price is 55.12, which means current price is +149.18% above from all time high which was touched on 07/09/20.
Compared to the average trading volume of 1.18M shares, ADPT reached a trading volume of 1024142 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Adaptive Biotechnologies Corporation [ADPT]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ADPT shares is $51.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ADPT stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Goldman have made an estimate for Adaptive Biotechnologies Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 03, 2020. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on July 23, 2019, representing the official price target for Adaptive Biotechnologies Corporation stock.
The Average True Range (ATR) for Adaptive Biotechnologies Corporation is set at 2.08, with the Price to Sales ratio for ADPT stock in the period of the last 12 months amounting to 55.38. The Price to Book ratio for the last quarter was 8.64, with the Price to Cash per share for the same quarter was set at 4.07.
How has ADPT stock performed recently?
Adaptive Biotechnologies Corporation [ADPT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.36. With this latest performance, ADPT shares dropped by -19.79% in over the last four-week period, additionally plugging by 24.26% over the last 6 months – not to mention a drop of -4.59% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ADPT stock in for the last two-week period is set at 36.44, with the RSI for the last a single of trading hit 32.34, and the three-weeks RSI is set at 41.30 for Adaptive Biotechnologies Corporation [ADPT]. The present Moving Average for the last 50 days of trading for this stock 42.40, while it was recorded at 37.63 for the last single week of trading, and 32.11 for the last 200 days.
Adaptive Biotechnologies Corporation [ADPT]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Adaptive Biotechnologies Corporation [ADPT] shares currently have an operating margin of -92.15 and a Gross Margin at +65.86. Adaptive Biotechnologies Corporation’s Net Margin is presently recorded at -81.78.
Return on Total Capital for ADPT is now -17.22, given the latest momentum, and Return on Invested Capital for the company is -15.28. Return on Equity for this stock declined to -44.46, with Return on Assets sitting at -11.18. When it comes to the capital structure of this company, Adaptive Biotechnologies Corporation [ADPT] has a Total Debt to Total Equity ratio set at 6.41. Additionally, ADPT Total Debt to Total Capital is recorded at 6.02, with Total Debt to Total Assets ending up at 4.01. Long-Term Debt to Equity for the company is recorded at 6.41, with the Long-Term Debt to Total Capital now at 6.02.
Reflecting on the efficiency of the workforce at the company, Adaptive Biotechnologies Corporation [ADPT] managed to generate an average of -$153,576 per employee. Receivables Turnover for the company is 9.73 with a Total Asset Turnover recorded at a value of 0.14.Adaptive Biotechnologies Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.40 and a Current Ratio set at 7.50.
Earnings analysis for Adaptive Biotechnologies Corporation [ADPT]
With the latest financial reports released by the company, Adaptive Biotechnologies Corporation posted -1.23/share EPS, while the average EPS was predicted by analysts to be reported at -0.14/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -778.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ADPT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Adaptive Biotechnologies Corporation go to 9.00%.
Insider trade positions for Adaptive Biotechnologies Corporation [ADPT]
There are presently around $3,592 million, or 73.90% of ADPT stock, in the hands of institutional investors. The top three institutional holders of ADPT stocks are: VIKING GLOBAL INVESTORS LP with ownership of 33,493,708, which is approximately -12.792% of the company’s market cap and around 4.10% of the total institutional ownership; MATRIX CAPITAL MANAGEMENT COMPANY, LP, holding 15,115,090 shares of the stock with an approximate value of $572.11 million in ADPT stocks shares; and BLACKROCK INC., currently with $187.77 million in ADPT stock with ownership of nearly 57.06% of the company’s market capitalization.
Positions in Adaptive Biotechnologies Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 117 institutional holders increased their position in Adaptive Biotechnologies Corporation [NASDAQ:ADPT] by around 22,056,146 shares. Additionally, 45 investors decreased positions by around 12,068,925 shares, while 11 investors held positions by with 60,785,274 shares. The mentioned changes placed institutional holdings at 94,910,345 shares, according to the latest SEC report filing. ADPT stock had 43 new institutional investments in for a total of 3,675,097 shares, while 20 institutional investors sold positions of 1,766,070 shares during the same period.