Adaptive Biotechnologies Corp [NASDAQ: ADPT] loss -1.11% or -0.09 points to close at $8.03 with a heavy trading volume of 4921767 shares.
The daily chart for ADPT points out that the company has recorded 70.85% gains over the past six months.
If we look at the average trading volume of 1.41M shares, ADPT reached to a volume of 4921767 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 $9.57 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 0.68, with the Price to Sales ratio for ADPT stock in the period of the last 12 months amounting to 6.67. The Price to Book ratio for the last quarter was 5.85, with the Price to Cash per share for the same quarter was set at 1.50.
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 -3.95. With this latest performance, ADPT shares gained by 4.29% in over the last four-week period, additionally plugging by 70.85% over the last 6 months – not to mention a rise of 99.26% 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 51.84, with the RSI for the last a single of trading hit 46.33, and the three-weeks RSI is set at 54.30 for Adaptive Biotechnologies Corp [ADPT]. The present Moving Average for the last 50 days of trading for this stock 7.45, while it was recorded at 8.13 for the last single week of trading, and 5.29 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 2.81 and a Current Ratio set at 2.89.
Adaptive Biotechnologies Corp [ADPT]: An earnings per share (EPS) analysis
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 26.66%.
An analysis of Institutional ownership at Adaptive Biotechnologies Corp [ADPT]
The top three institutional holders of ADPT stocks are: VIKING GLOBAL INVESTORS LP with ownership of 29.99 million shares, which is approximately 20.3466%. RUBRIC CAPITAL MANAGEMENT LP, holding 14.0 million shares of the stock with an approximate value of $$50.68 million in ADPT stocks shares; and RUBRIC CAPITAL MANAGEMENT LP, currently with $$42.22 million in ADPT stock with ownership which is approximately 8.0007%.
