BTIG lowered the firm’s price target on Adaptive Biotechnologies to $7 from $11 and keeps a Buy rating on the shares. The key highlight coming out of the earnings call is that the company suspended revenue guidance for its Immune Medicine – IM – business, which previously called for a 2023 revenue guide of $92-97M, though the management has also separately indicated that Immune Medicine is not likely to go to zero so revenue from IM can be viewed as “upside”, the analyst tells investors in a research note.
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