Adaptive Biotechnologies (NASDAQ:ADPT) Announces Earnings Results

Adaptive Biotechnologies (NASDAQ:ADPT) announced its quarterly earnings data on Tuesday. The company reported ($0.33) earnings per share (EPS) 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 company 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 earned ($0.40) EPS. Adaptive Biotechnologies’s revenue was up 11.2% compared to the same quarter last year.

Adaptive Biotechnologies Price Performance

Shares of ADPT traded up $0.23 on Wednesday, hitting $3.34. The company’s stock had a trading volume of 1,036,625 shares, compared to its average volume of 1,595,728. The company has a 50 day moving average price of $3.08 and a 200 day moving average price of $3.91. Adaptive Biotechnologies has a fifty-two week low of $2.28 and a fifty-two week high of $9.08. The company has a market capitalization of $492.22 million, a PE ratio of -2.37 and a beta of 1.27.

Insider Buying and Selling

In other Adaptive Biotechnologies news, President Julie Rubinstein sold 39,070 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $3.47, for a total value of $135,572.90. Following the completion of the sale, the president now directly owns 472,754 shares of the company’s stock, valued at $1,640,456.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Adaptive Biotechnologies news, President Julie Rubinstein sold 39,070 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $3.47, for a total transaction of $135,572.90. Following the completion of the sale, the president now directly owns 472,754 shares of the company’s stock, valued at $1,640,456.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Chad M. Robins sold 48,673 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $8,838,084.43. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,307 shares of company stock valued at $428,090. 5.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. BTIG Research dropped their price objective on shares of Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. The Goldman Sachs Group cut 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, JPMorgan Chase & Co. reduced their price objective on shares of Adaptive Biotechnologies from $11.00 to $8.00 and set an “overweight” rating on the stock in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.