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

Adaptive Biotechnologies (NASDAQ:ADPT) issued its earnings results 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 return on equity of 62.06% and a negative net margin of 110.13%. During the same period last year, the business posted ($0.30) earnings per share.

Adaptive Biotechnologies Trading Up 1.6 %

Shares of ADPT traded up $0.12 during trading hours on Tuesday, reaching $7.80. 1,777,918 shares of the stock traded hands, compared to its average volume of 1,527,917. The company has a market cap of $1.15 billion, a P/E ratio of -5.82 and a beta of 1.50. The company’s 50-day moving average price is $6.86 and its two-hundred day moving average price is $5.56. Adaptive Biotechnologies has a 52-week low of $2.28 and a 52-week high of $8.33.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ADPT. BTIG Research raised their target price 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 lifted their price objective on Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Piper Sandler increased their target price on 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.