Adaptive Biotechnologies (NASDAQ:ADPT) Announces Earnings Results

Adaptive Biotechnologies (NASDAQ:ADPT) posted its quarterly earnings results on Tuesday. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.04, Zacks reports. Adaptive Biotechnologies had a negative return on equity of 62.06% and a negative net margin of 110.13%. During the same quarter last year, the business posted ($0.30) EPS.

Adaptive Biotechnologies Stock Down 3.2 %

NASDAQ:ADPT opened at $7.55 on Thursday. Adaptive Biotechnologies has a 52 week low of $2.28 and a 52 week high of $8.33. The firm’s 50-day simple moving average is $6.92 and its 200 day simple moving average is $5.59.

Analyst Upgrades and Downgrades

ADPT has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price target on Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Piper Sandler lifted their target price on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Finally, BTIG Research increased their target price on Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th.

About Adaptive Biotechnologies

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.