Adaptive Biotechnologies Stock Has Doubled in the Past Year. Here’s What Could Come Next.

• Adaptive Biotechnologies (ADPT) has surged 100% over the past year, driven by strong technical momentum.
• Shares recently hit a new 3-year high.
• Analyst sentiment is mixed with price targets ranging from $17 to $30.
• Investor focus has shifted from ADPT’s technology to its business execution, with technical indicators and momentum supporting continued attention.

Today’s Featured Stock

Valued at $4.07 billion, Adaptive Biotechnologies (ADPT) is a commercial-stage biotech company. 

What I’m Watching

I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals and superior current momentum. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. ADPT checks those boxes. The Trend Seeker issued a new “Buy” signal on May 29. Since then, the stock has gained 67.92%.

Barchart’s Technical Indicators for Adaptive Biotechnologies

Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.

Adaptive Biotech scored a 3-year high of $26.16 on Aug. 19.

• Adaptive Biotech has a Weighted Alpha of 110.58.
• ADPT has a 100% “Buy” opinion from Barchart.
• The stock has gained 100.32% over the past 52 weeks.
• Adaptive Biotech has its Trend Seeker “Buy” signal intact.
• The stock recently traded at $25.45 with a 50-day moving average of $21.99.
• ADPT had 10 new highs and gained 10.25% in the last month.
• 60-month beta of 2.08.
• Relative Strength Index (RSI) is at 62.75.
• There’s a technical support level around $24.78.

Don’t Forget the Fundamentals

• $4.07 billion market capitalization.
• Revenue is projected to grow 5.87% this year and another 22.27% next year.
• Earnings are estimated to decrease 36.74% this year but increase again by 65.86% next year.

Analyst and Investor Sentiment on Adaptive Biotechnologies

• The Wall Street analysts followed by Barchart give the stock 7 “Strong Buy” and 2 “Hold” opinions with price targets between $21 and $28.
• Value Line rates the stock “Average” with price targets from $17 to $30.
• Morningstar thinks the stock is 25% is overvalued with a fair value of $20.67.
• CFRA’s MarketScope rates the stock as “Hold.”
• 7,960 investors are following the stock on Seeking Alpha, which rates it a “Hold.”
• TipRanks’ analysts’ consensus price target is $25.07 for a 1.45% loss.
• Short interest is 7.83% of the float with 4.39 days to cover the float.

The Bottom Line on Adaptive Biotechnologies

In my readings of recent analysis, Wall Street experts are focusing less on the technology side of the company and more on the business side of the company. They like what they see.

Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.