Adaptive Biotechnologies (NASDAQ:ADPT) Issues Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Adaptive Biotechnologies (NASDAQ:ADPT) released its earnings results on Thursday. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.10, FiscalAI reports. The firm had revenue of $71.68 million for the quarter, compared to analyst estimates of $59.38 million. Adaptive Biotechnologies had a negative return on equity of 58.40% and a negative net margin of 31.50%.

Here are the key takeaways from Adaptive Biotechnologies’ conference call:

• MRD (clonoSEQ) momentum: Full‑year MRD revenue grew ~46% with a Q4 record of 30,038 clonoSEQ tests (up 43% YoY), improving sequencing gross margins and MRD achieving profitability ahead of expectations.
• 2026 financial outlook: Guidance targets MRD revenue of $255–$265M (including $8–$9M milestones), test volumes >30% YoY, an average ASP of ~$1,400, and company‑wide positive adjusted EBITDA and free cash flow by year‑end 2026.
• Immune medicine data monetization: Adaptive now has >5 million paired TCRs across ~20,000 antigens, has signed two Pfizer data deals, pivoted toward data/AI licensing, and plans a lower 2026 net cash burn of $15–$20M to commercialize the dataset.
• Execution risk from payer negotiations and timing: two large national payer contracts are material to achieving the ASP target and any delay or less favorable outcomes could depress realized ASPs and revenue growth.
• Competitive and legacy revenue notes: management downplays a new flow‑cytometry competitor (citing lower sensitivity), and non‑cash Genentech amortization has been fully recognized (no ongoing contribution), creating market and revenue composition uncertainties.

Adaptive Biotechnologies Stock Performance

Shares of ADPT stock traded down $0.83 during mid-day trading on Thursday, reaching $16.47. The company’s stock had a trading volume of 2,497,299 shares, compared to its average volume of 2,009,089. The firm’s 50-day moving average is $17.17 and its two-hundred day moving average is $15.15. The company has a market cap of $2.51 billion, a P/E ratio of -30.50 and a beta of 2.18. Adaptive Biotechnologies has a 1-year low of $6.26 and a 1-year high of $20.76.

Insider Buying and Selling at Adaptive Biotechnologies

In other news, insider Francis Lo sold 79,590 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $17.73, for a total value of $1,411,130.70. Following the sale, the insider directly owned 315,978 shares in the company, valued at approximately $5,602,289.94. This represents a 20.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kyle Piskel sold 4,290 shares of the stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $18.00, for a total value of $77,220.00. Following the completion of the transaction, the chief financial officer directly owned 216,637 shares of the company’s stock, valued at approximately $3,899,466. The trade was a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,610,316 shares of company stock worth $27,714,816. Insiders own 6.40% of the company’s stock.

Institutional Trading of Adaptive Biotechnologies

A number of large investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. raised its stake in Adaptive Biotechnologies by 84.3% during the third quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company’s stock worth $89,337,000 after acquiring an additional 2,731,648 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Adaptive Biotechnologies by 544.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,441,402 shares of the company’s stock worth $36,523,000 after purchasing an additional 2,062,282 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Adaptive Biotechnologies by 26.2% in the 2nd quarter. Bank of America Corp DE now owns 1,857,168 shares of the company’s stock worth $21,636,000 after purchasing an additional 385,615 shares during the last quarter. Summit Partners Public Asset Management LLC acquired a new stake in shares of Adaptive Biotechnologies during the 3rd quarter worth about $14,934,000. Finally, Qube Research & Technologies Ltd lifted its holdings in Adaptive Biotechnologies by 161.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 952,229 shares of the company’s stock valued at $14,245,000 after purchasing an additional 587,461 shares during the last quarter. 99.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ADPT shares. JPMorgan Chase & Co. raised their price objective on shares of Adaptive Biotechnologies from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Morgan Stanley started coverage on shares of Adaptive Biotechnologies in a research note on Monday, December 1st. They set an “equal weight” rating and a $21.00 target price for the company. Piper Sandler raised their price target on shares of Adaptive Biotechnologies from $15.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Guggenheim boosted their price objective on shares of Adaptive Biotechnologies from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Wednesday, January 21st. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.22.

Adaptive Biotechnologies News Summary

Here are the key news stories impacting Adaptive Biotechnologies this week:

• Positive Sentiment: Q4 results beat expectations — Adaptive reported EPS of ($0.09) vs. consensus ($0.19) and revenue of $71.7M vs. $59.4M expected, signaling stronger-than-expected demand for its immune‑sequencing products. Adaptive Biotechnologies Q4 Press Release
• Neutral Sentiment: Analyst view remains constructive on balance — brokers show a consensus “Moderate Buy” and several firms have raised targets in recent months, supporting midpoint valuation expectations even as the company remains unprofitable. Analyst Coverage Note
• Neutral Sentiment: Institutional ownership is very high (reported ~99%); large positions from asset managers can amplify moves when funds rebalance, but also provide steady demand at certain levels. MarketBeat ADPT Profile
• Negative Sentiment: Heavy insider selling this week — CEO Chad Robins sold ~124,998 shares and director Harlan Robins sold sizable blocks (34,668 and 8,120 shares). Large insider dispositions are weighing on sentiment and likely contributed to intraday selling pressure. SEC filings: CEO sale. CEO Insider Sale Filing
• Negative Sentiment: Short interest data reported appears inconsistent (0 shares reported), but trading volume spiked versus average, suggesting active selling and short-term pressure despite the beat. Monitor official short-interest release for clarity. Trading & Short Interest

About Adaptive Biotechnologies

Adaptive Biotechnologies is a clinical-stage biotechnology company that focuses on harnessing the adaptive immune system to transform the diagnosis and treatment of disease. Through proprietary immune receptor sequencing and analysis, the company decodes the genetic information of T-cell and B-cell receptors to identify signatures of immune response. Its core technology platform provides insights into immune-driven conditions, enabling more precise monitoring and targeted therapeutic development.

The company’s flagship product, immunoSEQ, offers high-throughput immune repertoire profiling for researchers and pharmaceutical partners.