Adaptive Biotechnologies (NASDAQ:ADPT) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Adaptive Biotechnologies (NASDAQ:ADPT) announced its quarterly earnings results on Tuesday. The company reported ($0.23) EPS for the quarter, beating 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 quarter last year, the firm posted ($0.30) earnings per share.

Adaptive Biotechnologies Price Performance

NASDAQ ADPT traded up $0.12 during trading on Tuesday, hitting $7.80. 1,777,918 shares of the company’s stock traded hands, compared to its average volume of 1,527,917. The stock has a fifty day moving average of $6.86 and a two-hundred day moving average of $5.56. Adaptive Biotechnologies has a 12-month low of $2.28 and a 12-month high of $8.33. The firm has a market cap of $1.15 billion, a P/E ratio of -5.82 and a beta of 1.50.

Analyst Ratings Changes

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

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.