Adaptive Biotechnologies (NASDAQ:ADPT) Shares Gap Up After Better-Than-Expected Earnings

Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $16.47, but opened at $17.82. Adaptive Biotechnologies shares last traded at $16.1370, with a volume of 116,138 shares trading hands.

The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.10. Adaptive Biotechnologies had a negative net margin of 31.50% and a negative return on equity of 58.40%. The firm had revenue of $71.68 million during the quarter, compared to analyst estimates of $59.38 million. During the same period last year, the firm posted ($0.23) earnings per share. Adaptive Biotechnologies’s revenue for the quarter was up 51.0% compared to the same quarter last year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ADPT shares. TD Cowen restated a “buy” rating on shares of Adaptive Biotechnologies in a research note on Friday. Morgan Stanley initiated coverage on shares of Adaptive Biotechnologies in a report on Monday, December 1st. They issued an “equal weight” rating and a $21.00 price target for the company. Piper Sandler set a $21.00 price target on shares of Adaptive Biotechnologies in a research report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Wednesday, January 21st. Finally, Wall Street Zen downgraded Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Adaptive Biotechnologies presently has a consensus rating of “Moderate Buy” and an average target price of $17.44.

Insider Buying and Selling at Adaptive Biotechnologies

In related news, insider Francis Lo sold 113,890 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $15.57, for a total value of $1,773,267.30. Following the completion of the sale, the insider directly owned 315,978 shares of the company’s stock, valued at $4,919,777.46. This represents a 26.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kyle Piskel sold 162,820 shares of the company’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $19.50, for a total transaction of $3,174,990.00. Following the transaction, the chief financial officer directly owned 216,637 shares in the company, valued at approximately $4,224,421.50. This trade represents a 42.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,610,316 shares of company stock worth $27,714,816. 6.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of institutional investors have recently made changes to their positions in the stock. Sound Income Strategies LLC acquired a new stake in Adaptive Biotechnologies during the third quarter worth about $30,000. Assetmark Inc. lifted its position in Adaptive Biotechnologies by 867.9% during the fourth quarter. Assetmark Inc. now owns 3,020 shares of the company’s stock valued at $49,000 after buying an additional 2,708 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Adaptive Biotechnologies by 593.5% in the third quarter. Smartleaf Asset Management LLC now owns 3,939 shares of the company’s stock worth $59,000 after acquiring an additional 3,371 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Adaptive Biotechnologies during the 1st quarter valued at $93,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Adaptive Biotechnologies by 26.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,419 shares of the company’s stock worth $120,000 after purchasing an additional 1,532 shares during the period. 99.17% of the stock is owned by institutional investors and hedge funds.

Adaptive Biotechnologies Stock Performance

The firm has a fifty day moving average of $17.10 and a 200-day moving average of $15.16. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -29.91 and a beta of 2.18.

Adaptive Biotechnologies Company Profile

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.