Adaptive Biotechnologies (NASDAQ:ADPT) Announces Earnings Results

Adaptive Biotechnologies (NASDAQ:ADPT) announced its quarterly earnings data on Tuesday. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.04, Zacks reports. Adaptive Biotechnologies had a negative net margin of 110.13% and a negative return on equity of 62.06%. During the same period in the previous year, the firm earned ($0.30) EPS.

Adaptive Biotechnologies Trading Up 1.6 %

ADPT stock traded up $0.12 on Tuesday, hitting $7.80. The company had a trading volume of 1,777,949 shares, compared to its average volume of 1,527,917. Adaptive Biotechnologies has a 12-month low of $2.28 and a 12-month high of $8.33. The stock’s 50-day simple moving average is $6.86 and its 200 day simple moving average is $5.56. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -5.82 and a beta of 1.50.

Analyst Ratings Changes

A number of brokerages have weighed in on ADPT. BTIG Research upped their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. The Goldman Sachs Group increased their price target on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, Piper Sandler increased their price target on shares of Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an “overweight” rating in a report on Monday, November 11th.

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.