Adaptive Biotechnologies (NASDAQ:ADPT) Shares Gap Up on Better-Than-Expected Earnings

Adaptive Biotechnologies Corporation (NASDAQ:ADPT)’s stock price gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $16.47, but opened at $17.82. Adaptive Biotechnologies shares last traded at $16.1370, with a volume of 116,138 shares.

The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.10. The company had revenue of $71.68 million during the quarter, compared to the consensus estimate of $59.38 million. Adaptive Biotechnologies had a negative return on equity of 58.40% and a negative net margin of 31.50%.The business’s quarterly revenue was up 51.0% on a year-over-year basis. During the same period last year, the business earned ($0.23) EPS.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ADPT shares. Guggenheim upped their target price on shares of Adaptive Biotechnologies from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Piper Sandler set a $21.00 price objective on shares of Adaptive Biotechnologies in a report on Friday. Morgan Stanley initiated coverage on shares of Adaptive Biotechnologies in a report on Monday, December 1st. They issued an “equal weight” rating and a $21.00 price target on the stock. TD Cowen restated a “buy” rating on shares of Adaptive Biotechnologies in a report on Friday. Finally, Wall Street Zen cut Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.44.

Insider Buying and Selling at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, CFO Kyle Piskel sold 4,290 shares of the firm’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $18.00, for a total value of $77,220.00. Following the transaction, the chief financial officer directly owned 216,637 shares of the company’s stock, valued at approximately $3,899,466. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Francis Lo sold 79,590 shares of the firm’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $17.73, for a total transaction of $1,411,130.70. Following the completion of the transaction, the insider directly owned 315,978 shares in the company, valued at approximately $5,602,289.94. The trade was a 20.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 1,610,316 shares of company stock worth $27,714,816. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its holdings in shares of Adaptive Biotechnologies by 45.8% during the first quarter. AQR Capital Management LLC now owns 310,272 shares of the company’s stock valued at $2,265,000 after purchasing an additional 97,444 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Adaptive Biotechnologies by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,830 shares of the company’s stock valued at $511,000 after acquiring an additional 2,914 shares during the last quarter. Caxton Associates LLP purchased a new position in Adaptive Biotechnologies in the first quarter worth about $93,000. KLP Kapitalforvaltning AS increased its position in shares of Adaptive Biotechnologies by 42.9% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 25,000 shares of the company’s stock valued at $291,000 after purchasing an additional 7,500 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Adaptive Biotechnologies by 9.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 32,038 shares of the company’s stock worth $373,000 after purchasing an additional 2,880 shares during the period. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Stock Down 2.0%

The company has a market cap of $2.46 billion, a PE ratio of -29.91 and a beta of 2.18. The business’s fifty day moving average is $17.10 and its 200-day moving average is $15.16.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies is a clinical-stage biotechnology company that focuses on harnessing the adaptive immune system to transform the diagnosis and treatment of disease. Through proprietary immune receptor sequencing and analysis, the company decodes the genetic information of T-cell and B-cell receptors to identify signatures of immune response. Its core technology platform provides insights into immune-driven conditions, enabling more precise monitoring and targeted therapeutic development.

The company’s flagship product, immunoSEQ, offers high-throughput immune repertoire profiling for researchers and pharmaceutical partners.