In What Direction Will Adaptive Biotechnologies Corporation’s (NASDAQ:ADPT) Stock Goes From Here?

Adaptive Biotechnologies Corporation (NASDAQ: ADPT) closed the day trading at $8.14 down -1.93% from the previous closing price of $8.30. In other words, the price has decreased by -$0.16 from its previous closing price. On the day, 901317 shares were traded. ADPT stock price reached its highest trading level at $8.72 during the session, while it also had its lowest trading level at $8.05.

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For a better understanding of ADPT, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 5.00 and its Current Ratio is at 5.10. In the meantime, Its Debt-to-Equity ratio is 0.27 whereas as Long-Term Debt/Eq ratio is at 0.27.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Scotiabank on January 05, 2023, initiated with a Sector Outperform rating and assigned the stock a target price of $15.

On December 21, 2022, Piper Sandler Upgraded its rating to Overweight which previously was Neutral and also upped its target price recommendation from $7.50 to $14.

On August 25, 2022, Credit Suisse started tracking the stock assigning a Underperform rating and target price of $8.Credit Suisse initiated its Underperform rating on August 25, 2022, with a $8 target price.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Mar 07 when ADAMS R MARK sold 17,155 shares for $8.60 per share. The transaction valued at 147,533 led to the insider holds 178,486 shares of the business.

Taylor Stacy L sold 13,387 shares of ADPT for $115,128 on Mar 07. The SVP and General Counsel now owns 139,678 shares after completing the transaction at $8.60 per share. On Mar 07, another insider, SOOD NITIN, who serves as the Chief Commercial Officer, MRD of the company, sold 9,813 shares for $8.60 each. As a result, the insider received 84,392 and left with 231,010 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 6.46 while its Price-to-Book (P/B) ratio in mrq is 2.51.

Stock Price History:

Over the past 52 weeks, ADPT has reached a high of $15.19, while it has fallen to a 52-week low of $5.95. The 50-Day Moving Average of the stock is 8.93, while the 200-Day Moving Average is calculated to be 8.57.

Shares Statistics:

Over the past 3-months, ADPT traded about 1.03M shares per day on average, while over the past 10 days, ADPT traded about 879.38k shares per day. A total of 143.06M shares are outstanding, with a floating share count of 140.66M. Insiders hold about 0.20% of the company’s shares, while institutions hold 89.30% stake in the company. Shares short for ADPT as of Jan 30, 2023 were 4.75M with a Short Ratio of 4.87M, compared to 5.91M on Dec 29, 2022. Therefore, it implies a Short% of Shares Outstanding of 3.32% and a Short% of Float of 4.90%.

Earnings Estimates

Current recommendations for the stock of the company come from 10 analysts. On average, analysts expect EPS of -$0.35 for the current quarter, with a high estimate of -$0.3 and a low estimate of -$0.41, while EPS last year was -$0.43. The consensus estimate for the next quarter is -$0.4, with high estimates of -$0.35 and low estimates of -$0.44.

Analysts are recommending an EPS of between -$1.43 and -$1.53 for the fiscal current year, implying an average EPS of -$1.48. EPS for the following year is -$1.31, with 10 analysts recommending between -$0.73 and -$1.98.

Revenue Estimates

9 analysts predict $55.27M in revenue for the current quarter. It ranges from a high estimate of $58M to a low estimate of $52.07M. As of the current estimate, Adaptive Biotechnologies Corporation’s year-ago sales were $37.93M, an estimated increase of 45.70% from the year-ago figure. For the next quarter, 8 analysts are estimating revenue of $44.67M, an increase of 15.70% less than the figure of $45.70% in the same quarter last year. There is a high estimate of $48.6M for the next quarter, whereas the lowest estimate is $38.2M.

A total of 10 analysts have provided revenue estimates for ADPT’s current fiscal year. The highest revenue estimate was $188.11M, while the lowest revenue estimate was $182.18M, resulting in an average revenue estimate of $185.7M. In the same quarter a year ago, actual revenue was $154.34M, up 20.30% from the average estimate. Based on 10 analysts’ estimates, the company’s revenue will be $218.31M in the next fiscal year. The high estimate is $225.86M and the low estimate is $210M. The average revenue growth estimate for next year is up 17.60% from the average revenue estimate for this year.