Adaptive Biotechnologies (ADPT) Moves 5.8% Higher: Will This Strength Last?

Adaptive Biotechnologies (ADPT) shares ended the last trading session 5.8% higher at $13.17. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 19.9% loss over the past four weeks.

Adaptive Biotechnologies’ stock price gain can be attributed to the positive investor mindset regarding the potential of its pipeline. The company is advancing a portfolio focused on immune-profiling diagnostics and immune-driven drug discovery. Its lead commercial product, clonoSEQ, is used to monitor minimal residual disease in hematologic cancers such as multiple myeloma and leukemia, and the company continues to expand its clinical adoption and regulatory indications. Additionally, the company’s Immune Medicine platform aims to discover T-cell receptor-based therapeutics targeting infectious diseases, cancer and autoimmune conditions. The company is also progressing research programs to identify disease-specific immune responses, which could support future diagnostics and therapeutic development.

This life-sciences research company is expected to post quarterly loss of $0.16 per share in its upcoming report, which represents a year-over-year change of +20%. Revenues are expected to be $61.84 million, up 17.9% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Adaptive Biotechnologies, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ADPT going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Adaptive Biotechnologies is part of the Zacks Medical - Biomedical and Genetics industry. AnaptysBio, Inc. (ANAB), another stock in the same industry, closed the last trading session 1.6% higher at $64.81. ANAB has returned 16.2% in the past month.

For AnaptysBio, the consensus EPS estimate for the upcoming report has changed +34.5% over the past month to -$0.72. This represents a change of +43.8% from what the company reported a year ago. AnaptysBio currently has a Zacks Rank of #3 (Hold).

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This article originally published on Zacks Investment Research (zacks.com).

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