Piper Sandler lifts Adaptive Biotechnologies Corporation [ADPT] price estimate. Who else is bullish?


Adaptive Biotechnologies Corporation [NASDAQ: ADPT] closed the trading session at $7.50 on 06/09/22. The day’s price range saw the stock hit a low of $7.22, while the highest price level was $7.615. The company report on June 2, 2022 that Adaptive Biotechnologies Included in Key Abstracts at ASCO 2022 Supporting the Role of the clonoSEQ® Assay as a Standard for MRD Assessment Technology.

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Data demonstrate growing utilization of MRD to identify deep responses associated with the best patient outcomes.

Data from 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, will be included in several abstracts investigating the impact of MRD in blood cancers at the American Society of Clinical Oncology (ASCO) Annual Meeting being held June 3-7, in Chicago, Illinois. clonoSEQ® is the first and only U.S. Food and Drug Administration (FDA)-cleared assay for measuring minimal residual disease (MRD) in chronic lymphocytic leukemia (CLL), multiple myeloma (MM) and B-cell acute lymphoblastic leukemia (B-ALL), and is widely available to clinicians and patients across the U.S.

The stocks have a year to date performance of -73.27 percent and weekly performance of -6.13 percent. The stock has been moved at -73.81 percent over the last six months. The stock has performed 3.73 percent around the most recent 30 days and changed -37.55 percent over the most recent 3-months.

If compared to the average trading volume of 1.45M shares, ADPT reached to a volume of 4962207 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $15.30 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 1.90. 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.

Piper Sandler have made an estimate for Adaptive Biotechnologies Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 03, 2022. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $75 to $50. The new note on the price target was released on February 16, 2022, representing the official price target for Adaptive Biotechnologies Corporation stock. Previously, the target price had yet another drop from $54 to $21, while Goldman kept a Neutral rating on ADPT stock. On February 16, 2022, analysts decreased their price target for ADPT shares from 35 to 30.

The Average True Range (ATR) for Adaptive Biotechnologies Corporation is set at 0.73, with the Price to Sales ratio for ADPT stock in the period of the last 12 months amounting to 7.95. The Price to Book ratio for the last quarter was 1.92, with the Price to Cash per share for the same quarter was set at 2.22.

ADPT stock trade performance evaluation

Adaptive Biotechnologies Corporation [ADPT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.13. With this latest performance, ADPT shares gained by 3.73% in over the last four-week period, additionally sinking by -73.81% over the last 6 months – not to mention a drop of -80.22% 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 45.44, with the RSI for the last a single of trading hit 48.30, and the three-weeks RSI is set at 43.20 for Adaptive Biotechnologies Corporation [ADPT]. The present Moving Average for the last 50 days of trading for this stock 9.32, while it was recorded at 7.19 for the last single week of trading, and 21.68 for the last 200 days.

Adaptive Biotechnologies Corporation [ADPT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Adaptive Biotechnologies Corporation [ADPT] shares currently have an operating margin of -135.39 and a Gross Margin at +59.02. Adaptive Biotechnologies Corporation’s Net Margin is presently recorded at -134.30.

Return on Equity for this stock declined to -30.77, with Return on Assets sitting at -20.32.

Adaptive Biotechnologies Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.50 and a Current Ratio set at 3.60.

Earnings per share (EPS) analysis for Adaptive Biotechnologies Corporation [ADPT] stock

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 8.30%.

Adaptive Biotechnologies Corporation [ADPT]: Insider Ownership positions

There are presently around $981 million, or 86.60% 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 29,993,708, which is approximately 0% of the company’s market cap and around 2.20% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 12,416,367 shares of the stock with an approximate value of $96.6 million in ADPT stocks shares; and MATRIX CAPITAL MANAGEMENT COMPANY, LP, currently with $90.03 million in ADPT stock with ownership of nearly 0% 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 137 institutional holders increased their position in Adaptive Biotechnologies Corporation [NASDAQ:ADPT] by around 14,916,821 shares. Additionally, 92 investors decreased positions by around 12,255,521 shares, while 33 investors held positions by with 98,906,881 shares. The mentioned changes placed institutional holdings at 126,079,223 shares, according to the latest SEC report filing. ADPT stock had 48 new institutional investments in for a total of 3,438,995 shares, while 39 institutional investors sold positions of 5,048,895 shares during the same period.