Adaptive Biotechnologies (NASDAQ:ADPT) Announces Earnings Results

Adaptive Biotechnologies (NASDAQ:ADPT) released its quarterly earnings results on Tuesday. The company reported ($0.23) earnings per share 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 period in the previous year, the firm earned ($0.30) earnings per share.

Adaptive Biotechnologies Stock Down 3.2 %

Adaptive Biotechnologies stock opened at $7.55 on Thursday. Adaptive Biotechnologies has a 1-year low of $2.28 and a 1-year high of $8.33. The company has a fifty day simple moving average of $6.92 and a 200 day simple moving average of $5.59.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Piper Sandler boosted their price objective 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. The Goldman Sachs Group boosted their price target on Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, BTIG Research increased their price objective on 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.