Adaptive Biotechnologies (NASDAQ:ADPT) Issues Quarterly Earnings Results

Adaptive Biotechnologies (NASDAQ:ADPT) posted its quarterly earnings results on Tuesday. The company reported ($0.33) earnings per share (EPS) for the quarter, topping 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 analyst estimates of $38.78 million. Adaptive Biotechnologies had a negative return on equity of 53.65% and a negative net margin of 132.29%. Adaptive Biotechnologies’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the company earned ($0.40) EPS.

Adaptive Biotechnologies Price Performance

Shares of ADPT opened at $3.11 on Wednesday. The stock has a market cap of $458.32 million, a PE ratio of -1.99 and a beta of 1.27. The firm has a 50-day simple moving average of $3.08 and a two-hundred day simple moving average of $3.91. Adaptive Biotechnologies has a 1-year low of $2.28 and a 1-year high of $9.08.

Analysts Set New Price Targets

ADPT has been the subject of a number of research analyst reports. The Goldman Sachs Group lowered their target price on Adaptive Biotechnologies from $11.00 to $5.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. JPMorgan Chase & Co. dropped their target price on shares of 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 decreased their price objective on Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, April 4th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Adaptive Biotechnologies currently has an average rating of “Moderate Buy” and an average price target of $6.80.

Insider Activity

In other Adaptive Biotechnologies news, insider Kyle Piskel sold 7,727 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total transaction of $26,503.61. Following the sale, the insider now owns 123,318 shares in the company, valued at approximately $422,980.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related 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 completion of the sale, the insider now owns 123,318 shares in the company, valued at $422,980.74. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Chad M. Robins sold 48,673 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total transaction of $166,948.39. Following the completion of the transaction, the chief executive officer now directly owns 2,576,701 shares in the company, valued at $8,838,084.43. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,307 shares of company stock valued at $428,090. 5.20% of the stock is currently owned by corporate insiders.

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.