Adaptive Biotechnologies (ADPT) Set to Announce Earnings on Tuesday

Adaptive Biotechnologies (NASDAQ:ADPT) is set to post its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect Adaptive Biotechnologies to post earnings of ($0.35) per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings data on Wednesday, February 14th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.02. The company had revenue of $45.78 million during the quarter, compared to analyst estimates of $50.15 million. Adaptive Biotechnologies had a negative return on equity of 53.65% and a negative net margin of 132.29%. 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 ADPT opened at $3.01 on Monday. Adaptive Biotechnologies has a 1-year low of $2.28 and a 1-year high of $9.08. The company has a market capitalization of $443.58 million, a P/E ratio of -1.93 and a beta of 1.27. The firm’s 50 day simple moving average is $3.12 and its 200 day simple moving average is $3.92.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ADPT shares. BTIG Research cut their target price on shares of Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. JPMorgan Chase & Co. cut their price objective on Adaptive Biotechnologies from $11.00 to $8.00 and set an “overweight” rating for the company in a report on Thursday, February 15th. Finally, The Goldman Sachs Group decreased their price objective on Adaptive Biotechnologies from $11.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $6.80.

Insider Activity at Adaptive Biotechnologies

In other news, CFO Tycho Peterson sold 15,456 shares of Adaptive Biotechnologies stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $3.44, for a total value of $53,168.64. Following the sale, the chief financial officer now directly owns 531,553 shares in the company, valued at approximately $1,828,542.32. The sale was disclosed in a filing with the SEC, which is available through this link. In other Adaptive Biotechnologies news, President Julie Rubinstein sold 39,070 shares of the firm’s stock in a transaction that occurred 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 owns 472,754 shares of the company’s stock, valued at $1,640,456.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Tycho Peterson sold 15,456 shares of Adaptive Biotechnologies stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $3.44, for a total value of $53,168.64. Following the transaction, the chief financial officer now owns 531,553 shares of the company’s stock, valued at approximately $1,828,542.32. The disclosure for this sale can be found here. Insiders sold 124,307 shares of company stock worth $428,090 in the last three months. 5.20% of the stock is owned by insiders.

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.