On Jan. 04, Dobmeier Eric divested U.S. $573,369 in shares of Adaptive Biotechnologies Corporation. The Dir sold 10,000 shares at a price per share of $57.34. The transaction decreased this specific insider’s holdings to 0 shares worth around $0.0 at present.
Another 6,771 shares were sold by Benzeno Sharon, for more than $388,583 in total proceeds. The Chief Business Development Off dumped the shares at a price of $57.39 and the insider now owns almost 0 shares.
Meanwhile, Morgan Stanley had launched its coverage on ADPT with “an Equal-weight”, in a research note produced for clients September 09, 2020. In addition, there was a new coverage from Goldman on June 03, 2020. The research firm rated ADPT “a Buy”.
Is Adaptive Biotechnologies Corporation [NASDAQ:ADPT] a Good Buy Right Now?
It should be noted that ADPT technical indicators for short, intermediate as well as long term progress have placed an overall average of 88% as Buy. The average signal changed from 100% Buy in the last week and compares with 56% Buy in the past month. Data from Adaptive Biotechnologies Corporation’s Trend Spotter indicated that the signals were Strengthening. The stock current average is 1.01 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 0.83 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.87 million shares.
ADPT Price Performance
On Wall Street, Adaptive Biotechnologies Corporation [NASDAQ:ADPT] finished Wednesday’s session up 0.30% at $55.92. The stock went up to $57.24 at the same session while its lowest single day price was $54.30. In the last five days, it saw a fall of about -5.76%, Adaptive Biotechnologies Corporation shares dropped by almost -5.43% since the beginning of the year. However, the share price has dropped to as low as -14.87% below its one year high. On 01/04/21, the company shares recorded $59.58, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/06/21, the same year at $54.30. The company’s shares have inclined by 88.66% in the past year. The 50-day SMA achieved is $52.33 while the 200-day SMA is $43.05. Volume dropped to 0.59 million from 0.72 million in the previous session.
Adaptive Biotechnologies Corporation [ADPT] Valuation Measures
Notably, Adaptive Biotechnologies Corporation [ADPT] stock can be helpful for investors to consider historical price-sales ratio, more specifically, a 83.15 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 20.33.
ADPT Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 54.40 level, and in case of violation of this particular level, it will cause more drop to 52.88 level. On the upper level, 58.76 is still the key resistance. The stock may increase to the subsequent resistance at 57.34. The Relative Strength Index (RSI) pinned on the 14-day chart is 49.18, implying a neutral technical stance while the MACD stands at -3.87, meaning price will decrease in the next trading period. Percent R indicator moved to 85.78%, implying bearish price movement. Stochastic %K at 8.73% suggest buying the stock.
What is the short interest in Adaptive Biotechnologies Corporation?
Short interest in the Adaptive Biotechnologies Corporation stock has surged, increasing by 2.88 million shares to total 4.29 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 7.17 million, data from Yahoo Finance shows. The decrease of -67.13% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 5.31% of the overall float for the stock.
Adaptive Biotechnologies Corporation’s Biggest Shareholders: Who Owns Adaptive Biotechnologies Corporation [ADPT]?
Filings by Viking Global Investors LP showed that the firm now holds a total of 29,993,708 shares or roughly 21.93% of the outstanding ADPT shares. This means their shares have reduced by -3,500,000 from the 29,993,708 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, Matrix Capital Management Co. LP updated stake is worth $632,409,640. Details in the latest 13F filings reveal that The Vanguard Group, Inc. acquired their 25.07% stake valued at $334,745,796 while BlackRock Fund Advisors added theirs at $206,930,392. During the last quarter, The Vanguard Group, Inc. raised 1,391,321 of its shares in Adaptive Biotechnologies Corporation while BlackRock Fund Advisors bought 865,989 shares. The T. Rowe Price Associates, Inc.’s holdings currently number 3,840,398 shares at $214755056.16. According to the firm’s last 13F report, Massachusetts Financial Services shares in the company at filing stood at 2,952,304 shares, roughly $142,360,099.
ADPT Earnings Forecast For The Current Quarter
Adaptive Biotechnologies Corporation [ADPT] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $26.89M and an earnings per share of -$0.29 for Dec 2020. Looking further ahead, the company is expected to report revenue of $31.83M at an EPS of -$0.3 for Mar 2021. The estimates represent upside of 68.40% and -6.50% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
ADPT Earnings Estimates For The Current Year
For the financial year, Adaptive Biotechnologies Corporation [NASDAQ:ADPT] is expected to bring in revenue of $95.05M. The returns are nearly $9.98 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -1.08, lower than that of FY19 by -$0.07. Estimates put this year’s earnings growth at -6.90%, -5.60% for the next, and at an annual 2.20% over the next 5-year period. As for sales, forecasts are for an increase of 11.70% in the current fiscal year and a further 68.40% over the following year.
What are analyst thoughts on Adaptive Biotechnologies Corporation?
Looking forward to the Adaptive Biotechnologies Corporation share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Adaptive Biotechnologies Corporation stock at $63.00 within the next 12 months, which represents almost 11.24 per cent growth from its previous closing price of $55.92. The highest analysts’ target for Adaptive Biotechnologies Corporation stock projections is $74.00 and the lowest one is $46.00. Still, 8 analysts sharing their consensus rating for ADPT stock in 2021 agree that it is a Buy.