Q3 2024 EPS Estimates for Adaptive Biotechnologies Co. Lifted by William Blair (NASDAQ:ADPT)

Adaptive Biotechnologies Co. (NASDAQ:ADPT) – Analysts at William Blair upped their Q3 2024 earnings per share estimates for shares of Adaptive Biotechnologies in a research report issued on Wednesday, August 7th. William Blair analyst A. Brackmann now forecasts that the company will earn ($0.28) per share for the quarter, up from their prior forecast of ($0.30). The consensus estimate for Adaptive Biotechnologies’ current full-year earnings is ($1.29) per share. William Blair also issued estimates for Adaptive Biotechnologies’ Q4 2024 earnings at ($0.25) EPS, FY2024 earnings at ($1.17) EPS, Q1 2025 earnings at ($0.29) EPS and FY2025 earnings at ($1.02) EPS.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.02. Adaptive Biotechnologies had a negative return on equity of 57.43% and a negative net margin of 126.49%. The company had revenue of $43.19 million for the quarter, compared to analyst estimates of $38.63 million. During the same quarter in the previous year, the firm earned ($0.33) earnings per share. The business’s revenue was down 11.7% on a year-over-year basis.

Separately, JPMorgan Chase & Co. raised their price target on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.40.

Adaptive Biotechnologies Trading Up 1.6 %

ADPT opened at $4.47 on Friday. Adaptive Biotechnologies has a 1-year low of $2.28 and a 1-year high of $6.96. The stock has a market capitalization of $658.73 million, a PE ratio of -3.00 and a beta of 1.35. The firm has a 50-day moving average price of $3.81 and a two-hundred day moving average price of $3.54.

Institutional Investors Weigh In On Adaptive Biotechnologies

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Adaptive Biotechnologies by 0.8% during the first quarter. Vanguard Group Inc. now owns 12,869,818 shares of the company’s stock worth $41,312,000 after purchasing an additional 102,134 shares during the period. ARK Investment Management LLC boosted its holdings in Adaptive Biotechnologies by 8.1% during the second quarter. ARK Investment Management LLC now owns 11,412,000 shares of the company’s stock worth $41,311,000 after buying an additional 850,704 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Adaptive Biotechnologies by 11.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,899,631 shares of the company’s stock worth $24,977,000 after buying an additional 722,924 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Adaptive Biotechnologies by 50.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,912,027 shares of the company’s stock worth $14,162,000 after buying an additional 1,319,709 shares during the period. Finally, Rubric Capital Management LP bought a new stake in shares of Adaptive Biotechnologies in the 4th quarter valued at about $14,027,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

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.