Adaptive Biotechnologies (NASDAQ:ADPT) Announces Quarterly Earnings Results

Key Points

• Adaptive Biotechnologies missed on earnings: The company reported a quarterly loss of $0.25 per share, below the consensus loss estimate of $0.13, while revenue of $71.55 million exceeded expectations of $65.44 million.
• Shares remain near their 52-week high: ADPT traded at $22.56, compared with a one-year range of $9.96 to $23.15, giving the company a market capitalization of approximately $3.61 billion.
• Analyst sentiment is moderately positive: Five analysts rate the stock Buy, one rates it Hold and one rates it Sell; the average rating is “Moderate Buy,” with a consensus price target of $20.83. Insiders have sold more than 1.3 million shares worth about $27.8 million over the past 90 days.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) released its quarterly earnings data on Wednesday. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.12), FiscalAI reports. Adaptive Biotechnologies had a negative net margin of 16.82% and a negative return on equity of 40.06%. The business had revenue of $71.55 million during the quarter, compared to the consensus estimate of $65.44 million.

Adaptive Biotechnologies Stock Performance

NASDAQ:ADPT traded up $0.04 during mid-day trading on Wednesday, reaching $22.56. 3,146,606 shares of the company's stock were exchanged, compared to its average volume of 2,314,234. Adaptive Biotechnologies has a one year low of $9.96 and a one year high of $23.15. The business's fifty day simple moving average is $18.88 and its two-hundred day simple moving average is $16.51. The firm has a market capitalization of $3.61 billion, a PE ratio of -68.36 and a beta of 2.07.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ADPT. Guggenheim upped their price target on shares of Adaptive Biotechnologies from $21.00 to $22.00 and gave the company a "buy" rating in a research note on Monday, June 29th. Weiss Ratings restated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a report on Friday, July 17th. TD Cowen reaffirmed a "buy" rating on shares of Adaptive Biotechnologies in a research report on Wednesday, July 15th. JPMorgan Chase & Co. lowered their target price on Adaptive Biotechnologies from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 6th. Finally, BTIG Research reissued a "buy" rating and set a $22.00 price target on shares of Adaptive Biotechnologies in a report on Wednesday, June 17th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Adaptive Biotechnologies presently has an average rating of "Moderate Buy" and an average price target of $20.83.

Insider Buying and Selling at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, insider Francis Lo sold 44,838 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $22.59, for a total transaction of $1,012,890.42. Following the transaction, the insider owned 230,713 shares in the company, valued at $5,211,806.67. This represents a 16.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Susan Bobulsky sold 5,000 shares of Adaptive Biotechnologies stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $19.00, for a total transaction of $95,000.00. Following the completion of the sale, the insider owned 411,775 shares of the company's stock, valued at approximately $7,823,725. The trade was a 1.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 1,305,787 shares of company stock worth $27,828,563. 5.70% of the stock is currently owned by company insiders.

Institutional Trading of Adaptive Biotechnologies

Institutional investors have recently modified their holdings of the stock. Ameriprise Financial Inc. grew its holdings in shares of Adaptive Biotechnologies by 84.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company's stock valued at $89,337,000 after purchasing an additional 2,731,648 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Adaptive Biotechnologies by 303.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,387,361 shares of the company's stock valued at $71,252,000 after purchasing an additional 3,299,635 shares during the last quarter. Geode Capital Management LLC boosted its position in Adaptive Biotechnologies by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 3,511,855 shares of the company's stock valued at $57,041,000 after buying an additional 110,825 shares in the last quarter. State Street Corp grew its stake in shares of Adaptive Biotechnologies by 3.3% during the fourth quarter. State Street Corp now owns 3,181,644 shares of the company's stock worth $51,670,000 after buying an additional 102,362 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Adaptive Biotechnologies by 248.8% during the fourth quarter. Invesco Ltd. now owns 3,107,653 shares of the company's stock worth $50,468,000 after buying an additional 2,216,595 shares during the last quarter. 99.17% of the stock is currently owned by institutional investors.

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.

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