Adaptive Biotechnologies (NASDAQ:ADPT) Issues Quarterly Earnings Results

Adaptive Biotechnologies (NASDAQ:ADPT) announced its quarterly earnings results on Tuesday. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.02, Briefing.com reports. The company had revenue of $41.87 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.40) EPS.

Adaptive Biotechnologies Trading Up 11.9 %

NASDAQ:ADPT opened at $3.56 on Friday. The stock has a 50 day moving average of $3.05 and a two-hundred day moving average of $3.90. Adaptive Biotechnologies has a 12 month low of $2.28 and a 12 month high of $9.08. The firm has a market cap of $524.63 million, a P/E ratio of -2.39 and a beta of 1.27.

Analysts Set New Price Targets

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

Insider Transactions at Adaptive Biotechnologies

In other news, CEO Chad M. Robins sold 48,673 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total value of $166,948.39. Following the transaction, 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 accessible through this link. In other news, CEO Chad M. Robins sold 48,673 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 $166,948.39. Following the transaction, the chief executive officer now owns 2,576,701 shares in the company, valued at approximately $8,838,084.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Tycho Peterson sold 15,456 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $3.44, for a total transaction of $53,168.64. Following the completion of the sale, the chief financial officer now directly 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 have sold 124,307 shares of company stock valued at $428,090 over the last ninety days. Insiders own 5.20% of the company’s stock.

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.