An Analysis of Adaptive Biotechnologies Corporation (ADPT)’s Potential Price Growth


Adaptive Biotechnologies Corporation’s recent filing unveils that its Chief Commercial Officer, MRD SOOD NITIN unloaded Company’s shares for reported $68997.0 on Aug 08. In the deal valued at $6.54 per share,10,550 shares were sold. As a result of this transaction, SOOD NITIN now holds 214,808 shares worth roughly $ 1.46 million.

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Then, SOOD NITIN sold 5,652 shares, generating $38,321 in total proceeds. Upon selling the shares at $6.78, the Chief Commercial Officer, MRD now owns 225,358 shares.

Before that, PETERSON TYCHO sold 134,961 shares. Adaptive Biotechnologies Corporation shares valued at $1,098,583 were divested by the Chief Financial Officer at a price of $8.14 per share. As a result of the transaction, PETERSON TYCHO now holds 399,219 shares, worth roughly $2.72 million.

PT values the company’s stock at a premium of 54.6 to its Friday closing price.

Price Performance Review of ADPT

On Friday, Adaptive Biotechnologies Corporation [NASDAQ:ADPT] saw its stock jump 0.59% to $6.81. On the same session, the stock had its day’s lowest price of $6.725, but rose to a high of $6.96. Over the last five days, the stock has gained 10.55%. Adaptive Biotechnologies Corporation shares have fallen nearly -10.86% since the year began. Nevertheless, the stocks have fallen -23.65% over the past one year. While a 52-week high of $10.79 was reached on 01/18/23, a 52-week low of $5.96 was recorded on 05/17/23. SMA at 50 days reached $6.93, while 200 days put it at $7.87. A total of 0.53 million shares were traded, compared to the trading of 0.84 million shares in the previous session.

Levels Of Support And Resistance For ADPT Stock

The 24-hour chart illustrates a support level at 6.70, which if violated will result in even more drops to 6.60. On the upside, there is a resistance level at 6.94. A further resistance level may holdings at 7.07. The Relative Strength Index (RSI) on the 14-day chart is 52.45, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.40, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 15.47%. Stochastics %K at 88.02% indicates the stock is a selling.

How much short interest is there in Adaptive Biotechnologies Corporation?

A steep rise in short interest was recorded in Adaptive Biotechnologies Corporation stocks on Aug 14, 2023, growing by 1.08 million shares to a total of 10.06 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 8.98 million shares. There was a rise of 10.74%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 8.93% of the overall stock float, the days-to-cover ratio (short ratio) rose to 9.07.

According to FactSet, Adaptive Biotechnologies Corporation’s share price will average $11.88 in the next year, based on opinions of analysts polled by the firm. This is up nearly 77.25 percent from its previous closing price of $6.77. Analysts expect Adaptive Biotechnologies Corporation stock to reach the higher price of $15.00, while the lowest price estimate is $7.00. However, 10 analysts have rated ADPT stock as an Overweight in their predictions for 2023.


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