Adaptive Biotechnologies (NASDAQ:ADPT – Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.02, Briefing.com reports. 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 analysts’ expectations of $38.63 million. During the same period in the previous year, the firm posted ($0.33) earnings per share. The firm’s revenue for the quarter was down 11.7% on a year-over-year basis. Adaptive Biotechnologies updated its FY 2024 guidance to EPS.
Adaptive Biotechnologies Price Performance
Shares of ADPT traded down $0.15 during mid-day trading on Friday, reaching $4.30. 2,766,897 shares of the company’s stock traded hands, compared to its average volume of 1,355,308. The stock has a market cap of $633.69 million, a P/E ratio of -2.89 and a beta of 1.35. The stock’s 50-day moving average is $3.72 and its two-hundred day moving average is $3.53. Adaptive Biotechnologies has a 12 month low of $2.28 and a 12 month high of $7.73.
Analyst Ratings Changes
Separately, JPMorgan Chase & Co. boosted their price objective on Adaptive Biotechnologies from $5.00 to $6.00 and gave the stock an “overweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.40.
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.
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