Adaptive Biotechnologies Corp [ADPT] Is Currently -10.07 below its 200 Period Moving Avg: What Does This Mean?

Adaptive Biotechnologies Corp [NASDAQ: ADPT] loss -10.07% or -0.3 points to close at $2.68 with a heavy trading volume of 4230733 shares. The company report on April 2, 2024 at 4:05 PM that Adaptive Biotechnologies Provides Strategic Review Update and Announces Preliminary First Quarter 2024 Revenue.

Announces CFO transition.

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The daily chart for ADPT points out that the company has recorded -48.36% loss over the past six months.

If we look at the average trading volume of 1.45M shares, ADPT reached to a volume of 4230733 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Adaptive Biotechnologies Corp [ADPT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ADPT shares is $6.83 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.

JP Morgan have made an estimate for Adaptive Biotechnologies Corp shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 05, 2023. While these analysts kept the previous recommendation, Scotiabank raised their target price to Sector Outperform. The new note on the price target was released on January 05, 2023, representing the official price target for Adaptive Biotechnologies Corp stock. Previously, the target price had yet another raise from $7.50 to $14, while Piper Sandler kept a Overweight rating on ADPT stock.

The Average True Range (ATR) for Adaptive Biotechnologies Corp is set at 0.27, with the Price to Sales ratio for ADPT stock in the period of the last 12 months amounting to 2.28. The Price to Book ratio for the last quarter was 1.26, with the Price to Cash per share for the same quarter was set at 2.39.

Trading performance analysis for ADPT stock

Adaptive Biotechnologies Corp [ADPT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.94. With this latest performance, ADPT shares dropped by -32.83% in over the last four-week period, additionally sinking by -48.36% over the last 6 months – not to mention a drop of -69.65% 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 31.72, with the RSI for the last a single of trading hit 28.41, and the three-weeks RSI is set at 34.60 for Adaptive Biotechnologies Corp [ADPT]. The present Moving Average for the last 50 days of trading for this stock 3.65, while it was recorded at 2.97 for the last single week of trading, and 5.11 for the last 200 days.

Adaptive Biotechnologies Corp [ADPT]: A deeper dive into fundamental analysis

Adaptive Biotechnologies Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.50 and a Current Ratio set at 4.66.

Adaptive Biotechnologies Corp [ADPT]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Adaptive Biotechnologies Corp posted -0.4/share EPS, while the average EPS was predicted by analysts to be reported at -0.38/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -5.30%. 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 Corp go to 21.60%.

An analysis of Institutional ownership at Adaptive Biotechnologies Corp [ADPT]

The top three institutional holders of ADPT stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in ADPT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in ADPT stock with ownership which is approximately 5.8386%.