Adaptive Biotechnologies (NASDAQ:ADPT) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Adaptive Biotechnologies (NASDAQ:ADPT) issued its quarterly earnings data on Tuesday. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.03, FiscalAI reports. Adaptive Biotechnologies had a negative net margin of 21.48% and a negative return on equity of 46.68%. The firm had revenue of $70.87 million for the quarter, compared to analyst estimates of $61.03 million. During the same period in the prior year, the business posted ($0.20) EPS. The business’s revenue for the quarter was up 35.1% compared to the same quarter last year.

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

• MRD momentum and guidance — MRD revenue grew 53% year‑over‑year to $67.1M in Q1 and management raised full‑year MRD revenue guidance to $260M–$270M (includes a $9M milestone recognized in Q1).
• Margin and profitability progress — sequencing gross margin expanded to 70% (up 8 pts YoY) and MRD delivered positive adjusted EBITDA of $12.1M, with the company targeting >70% sequencing gross margins and positive adjusted EBITDA and free cash flow by end of 2026.
• Biopharma validation and backlog — bookings drove a pharma backlog of about $254M (up 24% YoY), including registrational studies and the company’s first recognized primary‑endpoint milestone (CEPHEUS), signaling stronger, higher‑value pharma demand for MRD endpoints.
• Clinical adoption and reimbursement traction — clonoSEQ set a quarterly volume record (~632,600 tests), blood‑based testing rose to 49% of MRD volume, community testing grew 67% YoY to 35% of volumes, U.S. ASPs increased 11% to $1,360, and clonoSEQ was listed in the Texas Medicaid Policy Manual.
• Immune Medicine remains a drag — Immune Medicine revenue fell 26% to $3.8M with an adjusted EBITDA loss of $10.4M, and management expects IM cash burn of $15M–$20M for 2026 while commercialization/partnerships are still being developed.

Adaptive Biotechnologies Trading Down 5.0%

Shares of NASDAQ:ADPT opened at $13.78 on Wednesday. Adaptive Biotechnologies has a 52 week low of $8.38 and a 52 week high of $20.76. The company’s 50 day moving average is $14.32 and its two-hundred day moving average is $15.92. The company has a market cap of $2.20 billion, a PE ratio of -34.45 and a beta of 2.16.

Insider Buying and Selling

In other Adaptive Biotechnologies news, COO Julie Rubinstein sold 19,037 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $14.23, for a total value of $270,896.51. Following the sale, the chief operating officer directly owned 377,802 shares of the company’s stock, valued at approximately $5,376,122.46. This represents a 4.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Chad M. Robins sold 37,263 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $15.19, for a total transaction of $566,024.97. Following the completion of the sale, the chief executive officer directly owned 2,180,518 shares in the company, valued at approximately $33,122,068.42. This represents a 1.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 2,417,168 shares of company stock worth $34,153,000. Insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its position in shares of Adaptive Biotechnologies by 1.0% during the 2nd quarter. California State Teachers Retirement System now owns 98,321 shares of the company’s stock worth $1,145,000 after buying an additional 933 shares during the last quarter. Captrust Financial Advisors grew its position in shares of Adaptive Biotechnologies by 7.6% in the 2nd quarter. Captrust Financial Advisors now owns 15,762 shares of the company’s stock valued at $184,000 after buying an additional 1,119 shares during the last quarter. Panagora Asset Management Inc. grew its position in shares of Adaptive Biotechnologies by 1.2% in the 4th quarter. Panagora Asset Management Inc. now owns 164,737 shares of the company’s stock valued at $2,675,000 after buying an additional 1,945 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of Adaptive Biotechnologies by 3.4% in the 4th quarter. Corient Private Wealth LLC now owns 71,908 shares of the company’s stock valued at $1,168,000 after buying an additional 2,347 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Adaptive Biotechnologies by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,830 shares of the company’s stock valued at $511,000 after buying an additional 2,914 shares during the last quarter. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on ADPT. Wall Street Zen lowered shares of Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. BTIG Research increased their target price on shares of Adaptive Biotechnologies from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, February 6th. JPMorgan Chase & Co. increased their target price on shares of Adaptive Biotechnologies from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Guggenheim increased their target price 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, TD Cowen reiterated a “buy” rating on shares of Adaptive Biotechnologies in a report on Friday, February 6th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $19.43.

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.