Adaptive Biotechnologies (NASDAQ:ADPT) Posts Earnings Results, Beats Estimates By $0.12 EPS

Adaptive Biotechnologies (NASDAQ:ADPT) announced its quarterly earnings data on Wednesday. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.12, FiscalAI reports. Adaptive Biotechnologies had a negative return on equity of 23.47% and a negative net margin of 23.67%. The company had revenue of $83.90 million for the quarter, compared to the consensus estimate of $71.57 million. During the same period in the previous year, the business earned $0.06 EPS. The firm’s revenue was down 10.7% compared to the same quarter last year.

Here are the key takeaways from Adaptive Biotechnologies’ conference call:

• Adaptive reported Q3 revenue of $83.9 million, up 39%, and MRD revenue growth of 44% excluding prior-year milestones. It generated $14.3 million in adjusted EBITDA and $8 million in free cash flow, and raised its 2026 MRD revenue guidance to $276 million–$286 million.
• Clinical testing volume grew 46% year over year to nearly 40,000 clonoSEQ tests, with growth across reimbursed indications. Blood-based and community testing also expanded; management said updated myeloma guidelines and a new definition of cure could further support adoption, though those benefits remain prospective.
• MRD pharma sequencing revenue grew 55% year over year excluding milestones, while the study portfolio reached 191 active studies and backlog rose 34% to about $270 million. Management expects approximately 25% full-year pharma sequencing growth, but noted that quarterly revenue and milestone timing can be lumpy.
• More frequent Medicare testing beyond the existing four-test episode bundle pressured realized ASP, particularly in multiple myeloma. Adaptive has submitted for an additional maintenance-testing bundle and is in discussions with MolDX, but the timing and terms of any expanded coverage are uncertain; the company also said it does not expect full-year GAAP net income or positive EPS.
• Adaptive said it remains on track to announce a path forward for separating its Immune Medicine business by year end. The segment recognized a Pfizer milestone after delivering rheumatoid arthritis data, but management did not provide details on the separation outcome.

Adaptive Biotechnologies Stock Up 3.0%

Shares of NASDAQ ADPT traded up $0.81 during midday trading on Friday, hitting $27.64. 2,006,463 shares of the stock traded hands, compared to its average volume of 2,291,250. The company has a debt-to-equity ratio of 2.22, a quick ratio of 4.68 and a current ratio of 4.79. Adaptive Biotechnologies has a one year low of $12.00 and a one year high of $30.74. The business has a 50 day moving average price of $26.39 and a two-hundred day moving average price of $19.81. The company has a market cap of $4.41 billion, a PE ratio of -61.54 and a beta of 2.18.

Insider Buying and Selling

In related news, CEO Chad Robins sold 321,324 shares of Adaptive Biotechnologies stock in a transaction on Monday, August 17th. The shares were sold at an average price of $25.08, for a total value of $8,058,805.92. Following the completion of the sale, the chief executive officer owned 2,180,518 shares of the company’s stock, valued at approximately $54,687,391.44. This trade represents a 12.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Francis Lo sold 115,406 shares of the business’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $28.06, for a total transaction of $3,238,292.36. Following the sale, the insider owned 220,867 shares of the company’s stock, valued at $6,197,528.02. This trade represents a 34.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,050,763 shares of company stock worth $26,806,633 over the last quarter. Corporate insiders own 5.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. TD Cowen lifted their target price on Adaptive Biotechnologies from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, October 13th. Morgan Stanley raised their price objective on shares of Adaptive Biotechnologies from $22.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Monday, October 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Thursday, October 15th. BTIG Research lifted their price objective on shares of Adaptive Biotechnologies from $25.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, September 22nd. Finally, National Bank Financial set a $34.00 price target on shares of Adaptive Biotechnologies in a report on Tuesday, September 22nd. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.06.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies Corporation (NASDAQ: ADPT) is a biotechnology company focused on using the genetics of the adaptive immune system to develop diagnostic and research tools. Based in Seattle, Washington, the company analyzes immune-cell receptors to help identify and measure disease, support drug development and improve understanding of immune responses.

Adaptive’s products include clonoSEQ, a clinical assay used to detect and monitor measurable residual disease in certain blood cancers, including multiple myeloma, acute lymphoblastic leukemia and chronic lymphocytic leukemia.