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 May 26, 2023, ADPT stock price climbed to $6.91 with 732,220 million shares trading.

ADPT has a beta of 1.71, meaning it tends to be more sensitive to market movements. ADPT has a correlation of 0.21 to the broad based SPY ETF.

ADPT has a market cap of $989.70 million. This is considered a Small Cap stock.

Last quarter Adaptive Biotechnologies reported $38 million in Revenue and -$.40 earnings per share. This beat revenue expectation by $837,000 and missed earnings estimates by -$.02.

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 has underperformed the market in the last year with a return of -8.7%, while the SPY ETF gained +5.2%. In the last 3 month period, ADPT fell short of the market, returning -16.9%, while SPY returned +6.3%. However, in the most recent 2 weeks ADPT has outperformed the stock market by returning +7.0%, while SPY returned +2.0%.

ADPT support price is $6.52 and resistance is $7.08 (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.