U.S. stocks were lower, with the Dow Jones index falling more than 100 points on Tuesday.Shares of United Natural Foods, Inc. (NYSE:UNFI) rose sharply during Tuesday's session after the company reported better-than-expected fourth-quarter EPS and sales and issued FY26 EPS guidance above estimates.The wholesale distributor reported net sales for the quarter of $7.70 billion, surpassing Wall Street's estimate of $7.64 billion, which fell 5.6% from $8.16 billion a year earlier. The company recorded an adjusted ...

Group 1 - The presentation features Adaptive Biotechnologies, highlighting the participation of Co-Founder and CEO Chad Robins and CFO Kyle Piskel [2]

Summary of Adaptive Biotechnologies FY Conference Call Company Overview - **Company**: Adaptive Biotechnologies (NasdaqGS:ADPT) - **Date**: September 10, 2025 - **Key Speakers**: Chad Robins (CEO), Kyle Piskel (CFO) Key Accomplishments and Goals - Achieved EBITDA profitability ahead of schedule, a significant milestone in the industry [2] - Successfully implemented Flatiron EMR integration and transitioned to NovaSeq X from NextSeqs [2] Market Penetration and Testing Insights - Market penetration for various hematologic malignancies: - Multiple Myeloma: 12% - Acute Lymphoblastic Leukemia (ALL): 28% - Mantle Cell Lymphoma (MCL): 7% - Chronic Lymphocytic Leukemia (CLL): 5% - Diffuse Large B-Cell Lymphoma (DLBCL): 3% [3] - Community penetration is growing rapidly, with a 16% quarter-over-quarter growth in community settings [4][5] - Blood-based testing now accounts for 44% of MRD testing volume, up from 40% in Q2 2024 [11] Testing Frequency and Clinical Utility - Average testing frequency: - ALL: 3.5 to 4 tests per patient per year - Multiple Myeloma: 2 to 2.5 tests per patient per year - CLL: 1 test per patient per year [8] - 80% of community oncologists are utilizing the new serial testing option integrated into EMR systems [10][26] - Clinical utility trials (MASTER and MIDUS) are enhancing market penetration and increasing test frequency [30][32] Reimbursement and Regulatory Updates - Recent CMS reimbursement for surveillance in MCL opens opportunities for other hematologic malignancies [20] - NCCN guideline updates strengthen recommendations for clonoSEQ testing in multiple myeloma [17] EMR Integration and Sales Strategy - 40 Epic integrations and 113 community accounts via oncoEMR, with a focus on quality over quantity [22] - Post-integration, accounts have seen a 25% growth in volume [23] - EMR integration is expected to drive consistent ordering patterns [26] Financial Performance and Projections - Targeting an ASP of $1,300 for clonoSEQ in 2025, with current performance exceeding $1,290 [45] - NovaSeq X rollout expected to improve gross margins by 5% to 8% [47] - Cash burn guidance has been reduced while maintaining over 25% top-line growth [48] Future Outlook - Excitement around the NeoGenomics partnership and its potential impact on community presence [27] - Continued focus on leveraging clinical utility data to drive growth in the community setting [50] - Long-term goal to establish a pan-disease recurrence monitoring paradigm [21] Additional Insights - The company is exploring monetization opportunities for returned assets from Genentech, including a digital TCR antigen map [39][40] - The integration of MRD as a primary endpoint in multiple myeloma trials is expected to enhance the company's pharma business [34][35] This summary encapsulates the key points discussed during the conference call, highlighting the company's achievements, market strategies, and future growth prospects.

Company Overview - Adaptive Biotechnologies (ADPT) currently holds a Momentum Style Score of B, indicating a favorable position in momentum investing [3] - The company has a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance in the market [4] Performance Metrics - Over the past week, ADPT shares increased by 1.38%, while the Zacks Medical - Biomedical and Genetics industry declined by 1.52% [6] - In a longer time frame, ADPT's monthly price change is 27.59%, significantly outperforming the industry's 2.69% [6] - Over the past quarter, ADPT shares have risen by 30.62%, and over the last year, they have gained 180.43%, compared to the S&P 500's increases of 9.68% and 16.9%, respectively [7] Trading Volume - The average 20-day trading volume for ADPT is 2,268,630 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the last two months, four earnings estimates for ADPT have been revised upwards, while none have been lowered, leading to an increase in the consensus estimate from -$0.87 to -$0.71 [10] - For the next fiscal year, three estimates have moved upwards with no downward revisions during the same period [10] Conclusion - Considering the performance metrics, trading volume, and positive earnings outlook, ADPT is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a strong candidate for near-term investment [12]

SEATTLE, Aug. 27, 2025 (GLOBE NEWSWIRE) -- Adaptive Biotechnologies Corporation (Nasdaq: ADPT), a commercial stage biotechnology company that aims to translate the genetics of the adaptive immune system into clinical products to diagnose and treat disease, today announced it will be participating in the upcoming Morgan Stanley 23rd Annual Global Healthcare Conference in New York, NY. Adaptive Biotechnologies’ management is scheduled to participate in a fireside chat on Wednesday, September 10th at 10:05 a.m ...

Company Performance - Shares of Adaptive Biotechnologies (ADPT) have increased by 14.5% over the past month, reaching a new 52-week high of $12.93 [1] - The stock has gained 111.2% since the beginning of the year, outperforming the Zacks Medical sector, which declined by 6.6%, and the Zacks Medical - Biomedical and Genetics industry, which saw a return of 0.6% [1] Earnings and Revenue - Adaptive Biotechnologies has a strong record of positive earnings surprises, having beaten earnings consensus estimates in the last four quarters [2] - In the latest earnings report on August 5, 2025, the company reported an EPS of -$0.17, surpassing the consensus estimate of -$0.24, and beat the revenue estimate by 18.47% [2] - For the current fiscal year, the company is expected to post earnings of -$0.78 per share on revenues of $227.14 million, reflecting a 27.78% change in EPS and a 26.93% change in revenues [3] - For the next fiscal year, earnings are projected to be -$0.59 per share on revenues of $271.06 million, indicating year-over-year changes of 23.72% and 19.34%, respectively [3] Valuation Metrics - Despite reaching a 52-week high, the valuation metrics are crucial to assess if the stock has become overvalued [4] - The Zacks Style Scores indicate that Adaptive Biotechnologies has a Value Score of F, while its Growth and Momentum Scores are both A, resulting in a VGM Score of B [6] Zacks Rank - The current Zacks Rank for Adaptive Biotechnologies is 2 (Buy), supported by a solid earnings estimate revision trend [7] - The recommendation is for investors to select stocks with a Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, suggesting that Adaptive Biotechnologies may have further upside potential [8] Industry Comparison - In comparison to industry peers, Puma Biotechnology, Inc. (PBYI) also shows promise with a Zacks Rank of 2 (Buy) and a Value Score of A [9] - Puma Biotechnology reported a 36.36% earnings beat in the last quarter and is expected to post earnings of $0.65 per share on revenues of $216.32 million for the current fiscal year [10] - The Medical - Biomedical and Genetics industry ranks in the bottom 59% of all industries, but there are still positive tailwinds for both ADPT and PBYI [11]

Group 1 - Aristotle Capital Management is an independent and employee-owned investment management organization [1] - The company specializes in equity and fixed income portfolio management [1] - The organization serves institutional and advisory clients worldwide [1]

Core Insights - Adaptive Biotechnologies reported a revenue of $58.88 million for the quarter ended June 2025, reflecting a year-over-year increase of 36.3% [1] - The company's EPS was -$0.17, an improvement from -$0.26 in the same quarter last year, with an EPS surprise of +29.17% compared to the consensus estimate of -$0.24 [1] Revenue Performance - ClonoSEQ test volume reached 25,321, exceeding the average estimate of 24,035 [4] - Total Immune Medicine revenues were $8.94 million, surpassing the estimated $7.93 million, marking a 13.1% increase year over year [4] - Total MRD revenues amounted to $49.94 million, significantly higher than the $42.33 million estimate, representing a 41.5% year-over-year growth [4] - MRD-Service revenue was reported at $44.44 million, exceeding the average estimate of $41.04 million [4] - Immune Medicine revenue from collaboration was $3.94 million, slightly below the estimated $4.07 million, but still showing a remarkable 124.1% increase year over year [4] - Immune Medicine revenue from service was $5 million, which was lower than the estimated $4.59 million, reflecting an 18.7% decrease year over year [4] Stock Performance - Shares of Adaptive Biotechnologies have declined by 7.1% over the past month, while the Zacks S&P 500 composite increased by 1% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Group 1 - Adaptive Biotechnologies reported a quarterly loss of $0.17 per share, better than the Zacks Consensus Estimate of a loss of $0.24, and improved from a loss of $0.26 per share a year ago, resulting in an earnings surprise of +29.17% [1] - The company achieved revenues of $58.88 million for the quarter ended June 2025, exceeding the Zacks Consensus Estimate by 18.47%, and up from $43.19 million in the same quarter last year [2] - Adaptive Biotechnologies shares have increased approximately 82% since the beginning of the year, significantly outperforming the S&P 500's gain of 7.6% [3] Group 2 - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The trend of estimate revisions for Adaptive Biotechnologies was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] - The current consensus EPS estimate for the upcoming quarter is -$0.21 on revenues of $56.63 million, and for the current fiscal year, it is -$0.87 on revenues of $218.28 million [7] Group 3 - The outlook for the Medical - Biomedical and Genetics industry, where Adaptive Biotechnologies operates, is currently in the bottom 43% of over 250 Zacks industries, which may impact stock performance [8]

Financial Data and Key Metrics Changes - Total revenue for the second quarter was $58.9 million, representing a 36% growth year over year, with 85% from the MRD business and 15% from immune medicine [20][21] - MRD revenue grew 42% year over year to $49.9 million, with clinical and pharma contributions of 65% and 35% respectively [20][21] - Sequencing gross margin improved by 14 percentage points year over year to 64%, driven by lower labor and overhead costs alongside increasing volumes and higher pricing [22][23] - Cash burn for the quarter was approximately $11 million, a 36% improvement over the same period last year, ending with a solid cash position of $222 million [7][20] Business Line Data and Key Metrics Changes - ClonoSEQ revenue grew 57% year over year, with over 25,300 tests delivered, up 37% versus the prior year and up 10% sequentially [7][20] - The MRD business achieved positive adjusted EBITDA of $1.9 million, a significant improvement from a deficit of $11.3 million a year ago [23] - Immune medicine revenue was $8.9 million, up 13% from a year ago, with adjusted EBITDA loss improving by 14% year over year [23] Market Data and Key Metrics Changes - Blood-based testing represented 44% of MRD tests, up 40% from a year ago, with multiple myeloma accounting for 41% of U.S. ClonoSEQ volume [8][9] - The average selling price (ASP) for ClonoSEQ tests in the U.S. reached $12.90, a 17% increase year over year [10][21] - The backlog for MRD Pharma business grew to $218 million, up 21% from the prior year, with 175 active global clinical trials [12][13] Company Strategy and Development Direction - The company is focused on expanding EMR integrations to drive volume growth, with significant progress in integrating ClonoSEQ into Flatiron's Onco EMR [11][12] - The MRD Pharma business is expected to continue growing, with a strong pipeline and increasing global support for MRD testing as a key endpoint in clinical trials [13][106] - The company aims to achieve a cash burn target of $25 million to $30 million by scaling revenue generation from pharma partnerships while managing R&D investments [19][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving raised full-year guidance, driven by stronger-than-expected clinical volume performance and higher MRD milestone revenue anticipated for the year [20][26] - The company remains optimistic about the growing global support for MRD testing to accelerate new treatments across various malignancies [13][106] - Management highlighted the importance of the recent NCCN guidelines update for multiple myeloma, which is expected to support increased adoption of ID testing [96] Other Important Information - The company has begun processing ClonoSEQ tests on the NovaSeq X, which is expected to scale operations and improve margins [6] - The integration of ClonoSEQ into EMR systems is seen as a key driver of volume growth, with positive feedback from healthcare providers [11][34] Q&A Session Summary Question: Can you provide insights on the Flatiron integration and its impact on volume growth? - Management noted that the integration with Flatiron is in early stages, but initial results are promising, with expectations for consistent ordering at clinically appropriate time points [34][35] Question: What are the expectations for ClonoSEQ pricing and payer traction? - The company is seeing improvements in pricing due to contracting efforts, particularly with larger national payers, and anticipates continued pricing momentum in the second half of the year [37][38] Question: How does the company plan to balance investments in the business with EBITDA margin potential? - Management indicated that the business is set up to continuously produce positive adjusted EBITDA, with ongoing investments in MRD and international markets to support growth [42][44] Question: What are the implications of the NCCN guidelines update for multiple myeloma? - The update is viewed as a tailwind for the company, reinforcing the importance of ID testing at diagnosis, which is expected to contribute to ongoing volume growth [96][97] Question: Can you elaborate on the NEO collaboration and its expected impact? - The NEO collaboration is in its pilot phase, with expectations for material impact on volumes in 2026 and 2027, while the current focus is on operational processes [86][88]