Adaptive Biotechnologies (NASDAQ:ADPT) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Adaptive Biotechnologies (NASDAQ:ADPT) issued its quarterly earnings results on Tuesday. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.02, Briefing.com reports. Adaptive Biotechnologies had a negative return on equity of 53.65% and a negative net margin of 132.29%. The firm had revenue of $41.87 million during the quarter, compared to the consensus estimate of $38.78 million. During the same quarter in the prior year, the business posted ($0.40) earnings per share. Adaptive Biotechnologies’s revenue for the quarter was up 11.2% on a year-over-year basis.

Adaptive Biotechnologies Stock Up 2.3 %

Shares of ADPT stock opened at $3.18 on Thursday. The business has a 50 day moving average of $3.06 and a two-hundred day moving average of $3.90. The company has a market cap of $468.64 million, a P/E ratio of -2.04 and a beta of 1.27. Adaptive Biotechnologies has a 52 week low of $2.28 and a 52 week high of $9.08.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ADPT. The Goldman Sachs Group decreased their price target on shares of Adaptive Biotechnologies from $11.00 to $5.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. JPMorgan Chase & Co. cut their target price on shares of Adaptive Biotechnologies from $11.00 to $8.00 and set an “overweight” rating on the stock in a research note on Thursday, February 15th. Finally, BTIG Research decreased their price target on Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.80.

Insider Buying and Selling

In related news, CEO Chad M. Robins sold 48,673 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total transaction of $166,948.39. Following the completion of the transaction, the chief executive officer now directly owns 2,576,701 shares in the company, valued at approximately $8,838,084.43. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 48,673 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total value of $166,948.39. Following the sale, the chief executive officer now owns 2,576,701 shares in the company, valued at $8,838,084.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Julie Rubinstein sold 39,070 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $3.47, for a total value of $135,572.90. Following the transaction, the president now owns 472,754 shares of the company’s stock, valued at $1,640,456.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,307 shares of company stock valued at $428,090. Insiders own 5.20% of the company’s stock.

About Adaptive Biotechnologies

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunosequencing platform which combines a suite of proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data to decode the adaptive immune system.