Despite Adaptive Biotechnologies Corp [ADPT]’s great opportunity, the stock is a bit overvalued

In yesterday’s Wall Street session, Adaptive Biotechnologies Corp (NASDAQ:ADPT) shares traded at $3.51, down -18.18% from the previous session.

8 analysts cover Adaptive Biotechnologies Corp (NASDAQ:ADPT), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $13.00 and a low of $7.00, we find $11.00. Given the previous closing price of $4.29, this indicates a potential upside of 156.41 percent. ADPT stock price is now -31.59% away from the 50-day moving average and -50.26% away from the 200-day moving average. The market capitalization of the company currently stands at $507.72M.

The stock has received a hold rating from 2 analysts and a buy rating from 6. Brokers who have rated the stock have averaged $10.40 as their price target over the next twelve months.

In other news, SOOD NITIN, Chief Commercial Officer, MRD sold 10,550 shares of the company’s stock on Aug 08. The stock was sold for $68,997 at an average price of $6.54. Upon completion of the transaction, the Chief Commercial Officer, MRD now directly owns 214,808 shares in the company, valued at $0.75 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 07, Chief Commercial Officer, MRD SOOD NITIN sold 5,652 shares of the business’s stock. A total of $38,321 was realized by selling the stock at an average price of $6.78. This leaves the insider owning 225,358 shares of the company worth $0.79 million. Insiders disposed of 371,859 shares of company stock worth roughly $1.31 million over the past 1 year. A total of 2.14% of the company’s stock is owned by insiders.

On Friday morning Adaptive Biotechnologies Corp (NASDAQ: ADPT) stock kicked off with the opening price of $3.8300. During the past 12 months, Adaptive Biotechnologies Corp has had a low of $3.94 and a high of $10.79. As of last week, the company has a debt-to-equity ratio of 0.59, a current ratio of 5.00, and a quick ratio of 4.80. The fifty day moving average price for ADPT is $5.0656 and a two-hundred day moving average price translates $7.0284 for the stock.

The latest earnings results from Adaptive Biotechnologies Corp (NASDAQ: ADPT) was released for Sep, 2023. According to the Biotechnology Company, earnings per share came in at -$0.33, beating analysts’ expectations of -$0.35 by 0.02. This compares to -$0.32 EPS in the same period last year. The net profit margin was -100.69% and return on equity was -41.76% for ADPT. The company reported revenue of $37.92 million for the quarter, compared to $47.83 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -20.72 percent. For the current quarter, analysts expect ADPT to generate $42.96M in revenue.

Adaptive Biotechnologies Corp(ADPT) Company Profile

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunoSEQ, a platform and core immunosequencing product that is used to answer translational research questions, as well as to discover new prognostic and diagnostic signals. It also provides clonoSEQ, a clinical diagnostic product for the detection and monitoring of minimal residual disease in patients with multiple myeloma, B cell acute lymphoblastic leukemia, and chronic lymphocytic leukemia, as well as available as a CLIA-validated laboratory developed test for patients with other lymphoid cancers. In addition, the company offers a pipeline of clinical products and services that are used for the diagnosing, monitoring, and treatment of diseases, such as cancer and autoimmune disorders. It offers products and services for life sciences research, clinical diagnostics, and drug discovery applications. Adaptive Biotechnologies Corporation has strategic collaborations with Genentech, Inc. for the development, manufacture, and commercialization of neoantigen directed T cell therapies for the treatment of a range of cancers; and Microsoft Corporation to develop diagnostic tests for the early detection of various diseases from a single blood test. The company was formerly known as Adaptive TCR Corporation and changed its name to Adaptive Biotechnologies Corporation in December 2011. Adaptive Biotechnologies Corporation was incorporated in 2009 and is headquartered in Seattle, Washington.

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