Adaptive Biotechnologies (NASDAQ:ADPT) Announces Earnings Results

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) posted its quarterly earnings results 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. The business had revenue of $41.87 million for the quarter, compared to analysts' expectations of $38.78 million. Adaptive Biotechnologies had a negative return on equity of 53.65% and a negative net margin of 132.29%. The firm's quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.40) earnings per share.

Adaptive Biotechnologies Trading Up 2.3 %

Shares of Adaptive Biotechnologies stock traded up $0.07 during trading on Wednesday, hitting $3.18. 2,146,355 shares of the stock were exchanged, compared to its average volume of 1,608,856. The company has a fifty day moving average price of $3.06 and a 200-day moving average price of $3.90. The stock has a market capitalization of $468.64 million, a price-to-earnings ratio of -2.04 and a beta of 1.27. Adaptive Biotechnologies has a 1-year low of $2.28 and a 1-year high of $9.08.

Insider Activity at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, insider Kyle Piskel sold 7,727 shares of the business's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total transaction of $26,503.61. Following the transaction, the insider now owns 123,318 shares of the company's stock, valued at $422,980.74. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Adaptive Biotechnologies news, President Julie Rubinstein sold 39,070 shares of Adaptive Biotechnologies stock in a transaction 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 completion of the transaction, 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 SEC, which is available at the SEC website. Also, insider Kyle Piskel sold 7,727 shares of Adaptive Biotechnologies stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total transaction of $26,503.61. Following the transaction, the insider now directly owns 123,318 shares of the company's stock, valued at $422,980.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 124,307 shares of company stock worth $428,090. Insiders own 5.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ADPT. The Goldman Sachs Group decreased their price target on Adaptive Biotechnologies from $11.00 to $5.00 and set a "neutral" rating on the stock in a report on Friday, February 16th. JPMorgan Chase & Co. reduced their target price on Adaptive Biotechnologies from $11.00 to $8.00 and set an "overweight" rating on the stock in a report on Thursday, February 15th. Finally, BTIG Research reduced their target price on Adaptive Biotechnologies from $6.00 to $5.00 and set a "buy" rating on the stock in a report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently 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.