Adaptive Biotechnologies (NASDAQ:ADPT) Announces Quarterly Earnings Results

Adaptive Biotechnologies (NASDAQ:ADPT) issued its quarterly earnings data on Tuesday. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter last year, the business earned ($0.30) EPS.

Adaptive Biotechnologies Stock Up 1.6 %

Shares of Adaptive Biotechnologies stock opened at $7.80 on Wednesday. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -5.82 and a beta of 1.50. Adaptive Biotechnologies has a 52-week low of $2.28 and a 52-week high of $8.33. The company’s 50-day simple moving average is $6.86 and its 200-day simple moving average is $5.56.

Wall Street Analysts Forecast Growth

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

Adaptive Biotechnologies Company Profile

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.