Adaptive Biotechnologies Corporation (NASDAQ:ADPT) closed Monday at $9.40 per share, up from $9.20 a day earlier. While Adaptive Biotechnologies Corporation has overperformed by 2.17%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ADPT fell by -45.25%, with highs and lows ranging from $18.02 to $5.95, whereas the simple moving average jumped by 8.93% in the last 200 days.
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On January 05, 2023, Scotiabank started tracking Adaptive Biotechnologies Corporation (NASDAQ: ADPT) recommending Sector Outperform. A report published by Piper Sandler on December 21, 2022, Upgraded its rating to ‘Overweight’ for ADPT. Credit Suisse also rated ADPT shares as ‘Underperform’, setting a target price of $8 on the company’s shares in an initiating report dated August 25, 2022. Piper Sandler Initiated an Neutral rating on June 03, 2022, and assigned a price target of $7.50. JP Morgan resumed its ‘Overweight’ rating for ADPT, as published in its report on February 16, 2022. Goldman’s report from February 16, 2022 suggests a price prediction of $21 for ADPT shares, giving the stock a ‘Neutral’ rating. BTIG Research also rated the stock as ‘Buy’.
Analysis of Adaptive Biotechnologies Corporation (ADPT)
Further, the quarter-over-quarter increase in sales is 21.00%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Adaptive Biotechnologies Corporation’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -41.00% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 5.30, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and ADPT is recording an average volume of 1.04M. On a monthly basis, the volatility of the stock is set at 7.17%, whereas on a weekly basis, it is put at 7.15%, with a loss of -5.43% over the past seven days. Furthermore, long-term investors anticipate a median target price of $13.00, showing growth from the present price of $9.40, which can serve as yet another indication of whether ADPT is worth investing in or should be passed over.
How Do You Analyze Adaptive Biotechnologies Corporation Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.20%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 89.30% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in ADPT shares?
The recent increase in stakes in ADPT appears to be a result of several institutional investors and hedge funds increasing their positions. During the last quarter, the company picked up 0 additional shares for a total stake of worth $88.41 million, bringing number of shares owned by the company to 11,572,590.
During the first quarter, The Vanguard Group, Inc. added a 89,482 position in ADPT. ARK Investment Management LLC purchased an additional 0.56 million shares in the last quarter, increasing its holdings by 6.42%, now holding 9.34 million shares worth $71.33 million. At the end of the first quarter, BlackRock Fund Advisors increased its ADPT holdings by 4.39% and now holds 8.33 million ADPT shares valued at $63.64 million with the added 0.35 million shares during the period. ADPT shares are owned by institutional investors to the tune of 89.30% at present.
