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Can Adaptive Biotechnologies Corporation (NASDAQ: ADPT) Be A Safe Investment Now?

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) shares, rose in value on Thursday, 06/23/22, with the stock price up by 12.26% to the previous day’s close as strong demand from buyers drove the stock to $8.70.

Actively observing the price movement in the last trading, the stock closed the session at $7.75, falling within a range of $7.8033 and $8.70. The value of beta (5-year monthly) was 0.73. Referring to stock’s 52-week performance, its high was $43.40, and the low was $5.95. On the whole, ADPT has fluctuated by 10.13% over the past month.

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With the market capitalization of Adaptive Biotechnologies Corporation currently standing at about $1.18 billion, investors are eagerly awaiting this quarter’s results, scheduled for Feb 22, 2022 – Feb 28, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.43, which is expected to increase to -$0.39 for fiscal year -$1.69 and then to about -$1.67 by fiscal year 2023. Data indicates that the EPS growth is expected to be -14.20% in 2023, while the next year’s EPS growth is forecast to be 1.20%.

Analysts have estimated the company’s revenue for the quarter at $43.37 million, with a low estimate of $40.9 million and a high estimate of $46.45 million. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $188.44 million, representing an increase of 22.10% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 2 upward and no downward review(s) in last seven days. We see that ADPT’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

8 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 3 analyst(s), 5 recommend it as a Buy and 0 called the ADPT stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Overweight.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of ADPT currently trading nearly 18.85% and 5.34% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 59.01, while the 7-day volatility ratio is showing 8.63% which for the 30-day chart, stands at 9.04%. Furthermore, Adaptive Biotechnologies Corporation (ADPT)’s average true range (ATR) is 0.70. The company’s stock has been forecasted to trade at an average price of $16.25 over the course of the next 52 weeks, with a low of $7.50 and a high of $25.00. Based on these price targets, the low is 13.79% off current price, whereas the price has to move -187.36% to reach the yearly target high. Additionally, analysts’ median price of $17.00 is likely to be welcomed by investors because it represents a decrease of -95.4% from the current levels.

A comparison of Adaptive Biotechnologies Corporation (ADPT) with its peers suggests the former has fared considerably weaker in the market. ADPT showed an intraday change of 12.26% in last session, and over the past year, it shrunk by -78.76%%. In comparison, Legend Biotech Corporation (LEGN) has moved higher at 6.97% on the day and was up 24.97% over the past 12 months. On the other hand, the price of Twist Bioscience Corporation (TWST) has risen 13.56% on the day. The stock, however, is off -68.28% from where it was a year ago. Additionally, there is a gain of 4.35% for I-Mab (IMAB) in last trading while the stock has seen an overall depriciation of -84.82%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 0.95%. Meanwhile, the Dow Jones Industrial Improved by 0.64%.

Data on historical trading for Adaptive Biotechnologies Corporation (NASDAQ:ADPT) indicates that the trading volumes over the past 10 days have averaged 2.15 million and over the past 3 months, they’ve averaged 1.57 million. According to company’s latest data on outstanding shares, there are 141.70 million shares outstanding.

Nearly 2.50% of Adaptive Biotechnologies Corporation’s shares belong to company insiders and institutional investors own 87.00% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 5.22 million shares as on Apr 28, 2022, resulting in a short ratio of 3.86. According to the data, the short interest in Adaptive Biotechnologies Corporation (ADPT) stood at 3.67% of shares outstanding as of Apr 28, 2022; the number of short shares registered in Mar 30, 2022 reached 4.77 million. The stock has fallen by -69.00% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ADPT stock heading into the next quarter.

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