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Adaptive Biotechnologies (ADPT) shares rallied 18% in the last trading session to close at $7.16. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.9% loss over the past four weeks.
Earlier this week, the company announced an exclusive strategic collaboration deal with NeoGenomics to advance minimal residual disease (MRD) monitoring options for patients with certain blood cancers. Per the deal, Adaptive's clonoSEQ, the first and only FDA-approved test for detecting MRD in lymphoid cancers, will be integrated with NeoGenomics’ COMPASS and CHART services. NEO’s personalized assessment tools for complex blood cancers offer a multi-modal testing approach. The collaboration aims to help oncologists deliver personalized treatment strategies by using advanced testing with meaningful insights into disease progression and patient risk. This might have driven the recent share price rally.
This life-sciences research company is expected to post quarterly loss of $0.26 per share in its upcoming report, which represents a year-over-year change of +13.3%. Revenues are expected to be $46.43 million, up 1.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and 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 #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Adaptive Biotechnologies belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Arcellx, Inc. (ACLX), closed the last trading session 4.4% higher at $67.51. Over the past month, ACLX has returned -21.2%.
For Arcellx , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.63. This represents a change of -250% from what the company reported a year ago. Arcellx currently has a Zacks Rank of #3 (Hold).
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