ADPT Stock Summary and Trading Ideas (Adaptive Biotechnologies | NASDAQ:ADPT)

Adaptive Biotechnologies Corp is a company advancing the field of immune-driven medicine by harnessing the inherent biology of the adaptive immune system to transform the diagnosis and treatment of disease. Its clinical diagnostic product, clonoSEQ, is test authorized by the FDA for the detection and monitoring of minimal residual disease ("MRD") in patients with multiple myeloma ("MM"), B cell acute lymphoblastic leukemia ("ALL") and chronic lymphocytic leukemia ("CLL") and is also available as a CLIA-validated laboratory developed test ("LDT") for patients with other lymphoid cancers, including diffuse large B-cell lymphoma ("DLBCL").

Adaptive Biotechnologies trades on the NASDAQ stock market under the symbol ADPT.

As of March 31, 2023, ADPT stock price climbed to $8.92 with 326,743 million shares trading.

ADPT has a beta of 1.94, meaning it tends to be more sensitive to market movements. ADPT has a correlation of 0.29 to the broad based SPY ETF.

ADPT has a market cap of $1.28 billion. This is considered a Small Cap stock.

Last quarter Adaptive Biotechnologies reported $55 million in Revenue and -$.28 earnings per share. This fell short of revenue expectation by $-72,000 and exceeded earnings estimates by $.07.

In the last 3 years, ADPT stock traded as high as $71.25 and as low as $5.96.

The top ETF exchange traded funds that ADPT belongs to (by Net Assets): ARKG, VTI, VB, IWM, VBK.

ADPT stock has underperformed the market in the last year with a return of -35.7%, while SPY returned -9.6%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in ADPT shares. However, ADPT has outperformed the market in the last 3 month and 2 week periods, returning +16.8% and +6.2%, while SPY returned +7.1% and +3.8%, respectively. This indicates ADPT has been having a stronger performance recently.

ADPT support price is $8.02 and resistance is $8.82 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ADPT stock will trade within this expected range on the day.