Adaptive Biotechnologies (NASDAQ:ADPT) Announces Earnings Results

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

Adaptive Biotechnologies Trading Up 2.3 %

ADPT opened at $3.18 on Thursday. The stock’s 50-day moving average price is $3.06 and its 200 day moving average price is $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 cap of $468.64 million, a price-to-earnings ratio of -2.04 and a beta of 1.27.

Insider Buying and Selling at Adaptive Biotechnologies

In related news, President Julie Rubinstein sold 39,070 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $3.47, for a total transaction of $135,572.90. Following the sale, the president now directly owns 472,754 shares of the company’s stock, valued at approximately $1,640,456.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Julie Rubinstein sold 39,070 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $3.47, for a total transaction of $135,572.90. Following the sale, the president now owns 472,754 shares in the company, valued at $1,640,456.38. The disclosure for this sale can be found here. Insiders sold a total of 124,307 shares of company stock valued at $428,090 in the last three months. 5.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.