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

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

Adaptive Biotechnologies Stock Down 3.4 %

Shares of ADPT stock opened at $3.11 on Wednesday. Adaptive Biotechnologies has a 12-month low of $2.28 and a 12-month high of $9.08. The firm has a fifty day moving average of $3.08 and a 200-day moving average of $3.91. The firm has a market capitalization of $458.32 million, a price-to-earnings ratio of -1.99 and a beta of 1.27.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Adaptive Biotechnologies 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 value of $166,948.39. Following the transaction, the chief executive officer now directly owns 2,576,701 shares of the company’s stock, valued at approximately $8,838,084.43. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 48,673 shares of Adaptive Biotechnologies stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total transaction of $166,948.39. Following the transaction, the chief executive officer now directly owns 2,576,701 shares of the company’s stock, valued at approximately $8,838,084.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Tycho Peterson sold 15,456 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $3.44, for a total value of $53,168.64. Following the sale, the chief financial officer now owns 531,553 shares in the company, valued at approximately $1,828,542.32. The disclosure for this sale can be found here. Insiders have sold 124,307 shares of company stock worth $428,090 over the last ninety days. Insiders own 5.20% of the company’s stock.

Adaptive Biotechnologies Company Profile

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.