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Compared to Estimates, Adaptive Biotechnologies (ADPT) Q1 Earnings: A Look at Key Metrics
Adaptive BiotechnologiesAdaptive Biotechnologies(US:ADPT) Zacks Investment Researchยท2024-05-08 00:30

Core Insights - Adaptive Biotechnologies reported $41.87 million in revenue for Q1 2024, an 11.2% year-over-year increase, with an EPS of -$0.33 compared to -$0.40 a year ago [1] - The revenue was a slight miss of -0.78% against the Zacks Consensus Estimate of $42.2 million, while the EPS exceeded expectations by +5.71% [1] Financial Performance Metrics - ClonoSEQ test volume reached 17,040, surpassing the average estimate of 16,386 [2] - Total MRD revenues were $32.63 million, exceeding the average estimate of $28.04 million, reflecting a year-over-year increase of +52.3% [2] - Total Immune Medicine revenues were $9.25 million, below the average estimate of $11.11 million, indicating a year-over-year decline of -43% [2] Stock Performance - Shares of Adaptive Biotechnologies have increased by +13.8% over the past month, contrasting with a -0.4% change in the Zacks S&P 500 composite [2] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [2]