Adaptive Biotechnologies (NASDAQ:ADPT – Get Free Report) announced its quarterly earnings data on Thursday. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.02, Briefing.com reports. The company had revenue of $43.19 million for the quarter, compared to analysts’ expectations of $38.63 million. Adaptive Biotechnologies had a negative net margin of 126.49% and a negative return on equity of 57.43%. Adaptive Biotechnologies’s revenue was down 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.33) EPS. Adaptive Biotechnologies updated its FY 2024 guidance to EPS.
Adaptive Biotechnologies Trading Down 3.4 %
Shares of NASDAQ:ADPT traded down $0.15 on Friday, reaching $4.30. 2,766,897 shares of the company were exchanged, compared to its average volume of 1,355,308. Adaptive Biotechnologies has a 1-year low of $2.28 and a 1-year high of $7.73. The firm has a market cap of $633.69 million, a price-to-earnings ratio of -2.89 and a beta of 1.35. The company has a 50-day moving average of $3.72 and a 200-day moving average of $3.53.
Wall Street Analyst Weigh In
Separately, JPMorgan Chase & Co. boosted their price objective on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an “overweight” rating in a research note on Friday. Two 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 currently has an average rating of “Moderate Buy” and a consensus price target of $6.40.
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.
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