Adaptive Biotechnologies Corp (NASDAQ:ADPT) shares, rose in value, with the stock price down by -1.11% to the previous day’s close as strong demand from buyers drove the stock to $8.03.
Actively observing the price movement in the last trading, the stock closed the session at $8.12. Referring to stock’s 52-week performance, its high was $8.95, and the low was $2.28. On the whole, ADPT has fluctuated by 4.29% over the past month.
With the market capitalization of Adaptive Biotechnologies Corp currently standing at about $1.19 billion, investors are eagerly awaiting this quarter’s results, scheduled for in April.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 212.71M, with a low estimate of 39.8M and a high estimate of 45.71M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 42.28M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that ADPT’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of ADPT currently trading nearly -1.41% and 7.79% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 51.84, while the 7-day volatility ratio is showing 10.37% which for the 30-day chart, stands at 8.81%. Furthermore, Adaptive Biotechnologies Corp (ADPT)’s beta value is 1.72, and its average true range (ATR) is 0.68.
A comparison of Adaptive Biotechnologies Corp (ADPT) with its peers suggests the former has fared considerably weaker in the market. ADPT showed an intraday change of -1.11% in last session, and over the past year, it grew by 99.26%%. In comparison, Legend Biotech Corp. ADR (LEGN) has moved higher at 2.12%% on the day and was down -45.59% over the past 12 months. On the other hand, the price of Twist Bioscience Corp. (TWST) has risen 5.97%% on the day. The stock, however, is off 10.43% from where it was a year ago. Additionally, there is a loss of -0.01%% for I-Mab ADR (IMAB) in last trading while the stock has seen an overall depriciation of -47.92%% over the past year.
Data on historical trading for Adaptive Biotechnologies Corp (NASDAQ:ADPT) indicates that the trading volumes over the past 3 months, they’ve averaged 1.41 million. According to company’s latest data on outstanding shares, there are 147.77 million shares outstanding.
Nearly 3.28% of Adaptive Biotechnologies Corp’s shares belong to company insiders and institutional investors own 92.61% of the company’s shares. The stock has risen by 33.94% 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.
