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

Adaptive Biotechnologies (NASDAQ:ADPT) released its quarterly earnings results on Tuesday. The company reported ($0.23) EPS for the quarter, beating the consensus estimate 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) EPS.

Adaptive Biotechnologies Stock Up 1.6 %

Shares of Adaptive Biotechnologies stock opened at $7.80 on Wednesday. Adaptive Biotechnologies has a 52-week low of $2.28 and a 52-week high of $8.33. The company has a 50 day moving average of $6.86 and a 200 day moving average of $5.56. The company has a market capitalization of $1.15 billion, a P/E ratio of -5.82 and a beta of 1.50.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Piper Sandler lifted their target price on Adaptive Biotechnologies from $6.00 to $7.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. The Goldman Sachs Group increased their target price on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, 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.

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.