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

Adaptive Biotechnologies (NASDAQ:ADPT) announced its quarterly earnings data on Tuesday. The company reported ($0.33) EPS for the quarter, topping 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 business had revenue of $41.87 million during the quarter, compared to the consensus estimate of $38.78 million. During the same period in the previous year, the company posted ($0.40) earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis.

Adaptive Biotechnologies Stock Up 9.3 %

NASDAQ:ADPT traded up $0.29 during trading hours on Wednesday, reaching $3.40. 918,286 shares of the company’s stock were exchanged, compared to its average volume of 1,594,061. The firm has a market capitalization of $501.06 million, a price-to-earnings ratio of -2.37 and a beta of 1.27. Adaptive Biotechnologies has a 1-year low of $2.28 and a 1-year high of $9.08. The company has a 50-day moving average of $3.08 and a 200 day moving average of $3.91.

Insider Activity

In related news, insider Kyle Piskel sold 7,727 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 $26,503.61. Following the transaction, the insider now owns 123,318 shares in the company, valued at approximately $422,980.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Kyle Piskel sold 7,727 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total transaction of $26,503.61. Following the completion of the transaction, the insider now directly owns 123,318 shares of the company’s stock, valued at $422,980.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chad M. Robins sold 48,673 shares of Adaptive Biotechnologies 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 completion of the sale, the chief executive officer now owns 2,576,701 shares in the company, valued at $8,838,084.43. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,307 shares of company stock valued at $428,090. Insiders own 5.20% of the company’s stock.

Wall Street Analyst Weigh In

ADPT has been the topic of a number of analyst reports. BTIG Research reduced their price objective on shares of Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. The Goldman Sachs Group lowered their price target 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, JPMorgan Chase & Co. lowered 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. 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, Adaptive Biotechnologies presently has an average rating of “Moderate Buy” and an average target price of $6.80.

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.