Adaptive Biotechnologies (ADPT) Scheduled to Post Earnings on Tuesday

Adaptive Biotechnologies (NASDAQ:ADPTGet Free Report) is set to post its quarterly earnings results on Tuesday, April 2nd.

Adaptive Biotechnologies (NASDAQ:ADPTGet Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.02. The business had revenue of $45.78 million for the quarter, compared to analysts’ expectations of $50.15 million. Adaptive Biotechnologies had a negative net margin of 132.29% and a negative return on equity of 53.65%. On average, analysts expect Adaptive Biotechnologies to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Adaptive Biotechnologies Price Performance

Shares of NASDAQ:ADPT opened at $3.21 on Monday. The company’s 50 day simple moving average is $3.70 and its 200 day simple moving average is $4.33. The stock has a market capitalization of $465.74 million, a price-to-earnings ratio of -2.06 and a beta of 1.27. Adaptive Biotechnologies has a 1 year low of $2.61 and a 1 year high of $9.08.

Insider Activity

In other news, CEO Chad M. Robins sold 48,673 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,576,701 shares of the company’s stock, valued at $8,838,084.43. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Chad M. Robins sold 48,673 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $8,838,084.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kyle Piskel sold 7,727 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were 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 $422,980.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,307 shares of company stock worth $428,090. Company insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC lifted its position in Adaptive Biotechnologies by 2.3% during the third quarter. Commonwealth Equity Services LLC now owns 53,701 shares of the company’s stock valued at $382,000 after purchasing an additional 1,225 shares during the last quarter. Legal & General Group Plc increased its position in Adaptive Biotechnologies by 1.7% during the 4th quarter. Legal & General Group Plc now owns 94,308 shares of the company’s stock valued at $721,000 after purchasing an additional 1,569 shares during the period. PNC Financial Services Group Inc. increased its position in Adaptive Biotechnologies by 23.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,432 shares of the company’s stock valued at $57,000 after purchasing an additional 1,587 shares during the period. UBS Group AG increased its position in Adaptive Biotechnologies by 6.8% during the 3rd quarter. UBS Group AG now owns 27,005 shares of the company’s stock valued at $193,000 after purchasing an additional 1,725 shares during the period. Finally, Vident Investment Advisory LLC increased its position in Adaptive Biotechnologies by 14.1% during the 4th quarter. Vident Investment Advisory LLC now owns 15,159 shares of the company’s stock valued at $116,000 after purchasing an additional 1,871 shares during the period. 99.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ADPT. JPMorgan Chase & Co. cut their price target 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. The Goldman Sachs Group dropped their target price on shares of Adaptive Biotechnologies from $11.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $7.25.

Check Out Our Latest Stock Report on ADPT

About Adaptive Biotechnologies

(Get Free Report)

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.

Further Reading

Earnings History for Adaptive Biotechnologies (NASDAQ:ADPT)

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