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

Adaptive Biotechnologies (NASDAQ:ADPTGet Free Report) announced its earnings results on Tuesday. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.02, Briefing.com reports. The company had revenue of $41.87 million for the quarter, compared to analyst estimates of $38.78 million. Adaptive Biotechnologies had a negative return on equity of 53.65% and a negative net margin of 132.29%. Adaptive Biotechnologies’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.40) earnings per share.

Adaptive Biotechnologies Stock Up 11.9 %

Shares of NASDAQ:ADPT opened at $3.56 on Friday. The firm has a fifty day moving average of $3.05 and a two-hundred day moving average of $3.90. Adaptive Biotechnologies has a 12-month low of $2.28 and a 12-month high of $9.08. The firm has a market capitalization of $524.63 million, a P/E ratio of -2.39 and a beta of 1.27.

Analyst Upgrades and Downgrades

ADPT has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Adaptive Biotechnologies from $11.00 to $8.00 and set an “overweight” rating for the company in a report on Thursday, February 15th. The Goldman Sachs Group reduced their target price on Adaptive Biotechnologies from $11.00 to $5.00 and set a “neutral” rating for the company in a report on Friday, February 16th. Finally, BTIG Research lowered their price target on Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.80.

View Our Latest Research Report on Adaptive Biotechnologies

Insider Transactions at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, SVP Stacy L. Taylor sold 13,381 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total value of $45,896.83. Following the transaction, the senior vice president now owns 166,287 shares in the company, valued at $570,364.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Stacy L. Taylor sold 13,381 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total transaction of $45,896.83. Following the completion of the sale, the senior vice president now directly owns 166,287 shares of the company’s stock, valued at approximately $570,364.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chad M. Robins sold 48,673 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total value of $166,948.39. Following the completion of the transaction, the chief executive officer now owns 2,576,701 shares in the company, valued at approximately $8,838,084.43. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 124,307 shares of company stock valued at $428,090. 5.20% of the stock is owned by insiders.

Adaptive Biotechnologies Company Profile

(Get Free Report)

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.

See Also

Earnings History for Adaptive Biotechnologies (NASDAQ:ADPT)

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