Overview Dividends

(ADPT) Adaptive Biotechnologies - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US00650F1093

Immunosequencing, ClonoSEQ, MRD, Diagnostics, Therapeutics

Life Sciences Tools & Services
Market Cap in USD: 2,429m

IPO / Inception: 2019-06-27
Return 12m vs S&P 500: 94.4%

EPS (Earnings per Share)

EPS CAGR: 107.43%
EPS Trend: 84.5%

Last SUE: 2.36
Qual. Beats: 4

Revenue

Rev. CAGR: 27.37%
Rev. Trend: 62.8%

Last SUE: 4.00
Qual. Beats: 3

Dividends

Currently no dividends paid

Risk via 5d forecast
Volatility	74.3%
Value at Risk 5%th	103%
Relative Tail Risk	-16.14%

Reward TTM
Sharpe Ratio	1.38
Alpha	131.75
CAGR/Max DD	0.29

Character TTM
Hurst Exponent	0.409
Beta	1.566
Beta Downside	1.004

Drawdowns 3y
Max DD	76.90%
Mean DD	34.55%
Median DD	32.99%

Description: ADPT Adaptive Biotechnologies November 13, 2025

Adaptive Biotechnologies (NASDAQ: ADPT) is a commercial-stage biotech that monetizes its immune-medicine platform by generating clinical immunomics data through proprietary immunosequencing, computational biology, and machine-learning pipelines. Its flagship diagnostic, clonoSEQ, quantifies Minimal Residual Disease (MRD) in hematologic cancers, while its research-service arm supplies immune-repertoire data for drug discovery and life-science studies.

Key commercial metrics (as of FY 2023) include approximately $34 million in total revenue, a 28 % YoY increase driven primarily by growth in clonoSEQ reimbursements, and a cash position of roughly $300 million, giving the company > 12 months of runway at current burn rates. The partnership with Genentech to co-develop neoantigen-directed T-cell therapies is a strategic catalyst, potentially expanding ADPT’s addressable market from the current ~ $5 billion MRD diagnostics niche to the broader $30 billion oncology immunotherapy space.

Sector-level drivers that materially affect ADPT’s outlook are (1) accelerating adoption of precision-medicine diagnostics, (2) rising payer willingness to reimburse MRD testing due to demonstrated survival benefits, and (3) continued capital inflows into immune-repertoire technologies, which have a base-rate success probability of ~ 15 % for advancing to late-stage trials according to recent industry analyses.

For a deeper, data-driven assessment of ADPT’s valuation and risk profile, you may find it useful to explore the analytics on ValueRay, which aggregates real-time financial and scientific metrics into a single research dashboard.

Piotroski VR‑10 (Strict, 0-10) 2.0

Net Income (-79.6m TTM) > 0 and > 6% of Revenue (6% = 15.2m TTM)

FCFTA -0.13 (>2.0%) and ΔFCFTA 7.68pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 78.37% (prev 124.5%; Δ -46.13pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA -0.12 (>3.0%) and CFO -60.5m > Net Income -79.6m (YES >=105%, WARN >=100%)

NO Net Debt/EBITDA fails (EBITDA <= 0)

Current Ratio 3.38 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (163.2m) change vs 12m ago 10.61% (target <= -2.0% for YES)

Gross Margin 71.84% (prev 58.46%; Δ 13.38pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 48.18% (prev 31.74%; Δ 16.44pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio -6.25 (EBITDA TTM -57.1m / Interest Expense TTM 11.8m) >= 6 (WARN >= 3)

Altman Z'' -12.21

(A) 0.40 = (Total Current Assets 281.4m - Total Current Liabilities 83.4m) / Total Assets 490.6m

(B) -2.75 = Retained Earnings (Balance) -1.35b / Total Assets 490.6m

warn (B) unusual magnitude: -2.75 — check mapping/units

(D) -4.71 = Book Value of Equity -1.35b / Total Liabilities 286.4m

Total Rating: -12.21 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 31.62

1. Piotroski 2.0pt

2. FCF Yield -2.59%

3. FCF Margin -24.90%

4. Debt/Equity 1.05

5. Debt/Ebitda -2.78

6. ROIC - WACC (= -40.87)%

7. RoE -40.97%

8. Rev. Trend 62.82%

9. EPS Trend 84.51%

What is the price of ADPT shares?

As of January 07, 2026, the stock is trading at USD 16.11 with a total of 3,352,311 shares traded.
Over the past week, the price has changed by -1.89%, over one month by +7.76%, over three months by +11.33% and over the past year by +128.51%.

Is ADPT a buy, sell or hold?

Adaptive Biotechnologies has received a consensus analysts rating of 4.25. Therefore, it is recommended to buy ADPT.

Strong Buy: 3
Buy: 4
Hold: 1
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the ADPT price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	19.9	23.3%
Analysts Target Price	19.9	23.3%
ValueRay Target Price	16.2	0.7%

ADPT Fundamental Data Overview January 06, 2026

Market Cap USD = 2.43b (2.43b USD * 1.0 USD.USD)
P/S = 9.6098
P/B = 11.8811
Beta = 2.181
Revenue TTM = 252.8m USD
EBIT TTM = -73.7m USD
EBITDA TTM = -57.1m USD
Long Term Debt = 81.8m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 11.9m USD (from shortTermDebt, last quarter)
Debt = 213.6m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 158.6m USD (from netDebt column, last quarter)
Enterprise Value = 2.43b USD (2.43b + Debt 213.6m - CCE 212.8m)
Interest Coverage Ratio = -6.25 (Ebit TTM -73.7m / Interest Expense TTM 11.8m)
FCF Yield = -2.59% (FCF TTM -62.9m / Enterprise Value 2.43b)
FCF Margin = -24.90% (FCF TTM -62.9m / Revenue TTM 252.8m)
Net Margin = -31.50% (Net Income TTM -79.6m / Revenue TTM 252.8m)
Gross Margin = 71.84% ((Revenue TTM 252.8m - Cost of Revenue TTM 71.2m) / Revenue TTM)
Gross Margin QoQ = 80.68% (prev 69.43%)
Tobins Q-Ratio = 4.95 (Enterprise Value 2.43b / Total Assets 490.6m)
Interest Expense / Debt = 1.39% (Interest Expense 2.97m / Debt 213.6m)
Taxrate = 21.0% (US default 21%)
NOPAT = -58.2m (EBIT -73.7m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 3.38 (Total Current Assets 281.4m / Total Current Liabilities 83.4m)
Debt / Equity = 1.05 (Debt 213.6m / totalStockholderEquity, last quarter 204.4m)
Debt / EBITDA = -2.78 (negative EBITDA) (Net Debt 158.6m / EBITDA -57.1m)
Debt / FCF = -2.52 (negative FCF - burning cash) (Net Debt 158.6m / FCF TTM -62.9m)
Total Stockholder Equity = 194.3m (last 4 quarters mean from totalStockholderEquity)
RoA = -16.23% (Net Income -79.6m / Total Assets 490.6m)
RoE = -40.97% (Net Income TTM -79.6m / Total Stockholder Equity 194.3m)
RoCE = -26.67% (EBIT -73.7m / Capital Employed (Equity 194.3m + L.T.Debt 81.8m))
RoIC = -29.94% (negative operating profit) (NOPAT -58.2m / Invested Capital 194.3m)
WACC = 10.93% (E(2.43b)/V(2.64b) * Re(11.79%) + D(213.6m)/V(2.64b) * Rd(1.39%) * (1-Tc(0.21)))
Discount Rate = 11.79% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 6.11%
Fair Price DCF = unknown (Cash Flow -62.9m)
EPS Correlation: 84.51 | EPS CAGR: 107.4% | SUE: 2.36 | # QB: 4
Revenue Correlation: 62.82 | Revenue CAGR: 27.37% | SUE: 4.0 | # QB: 3
EPS next Quarter (2026-03-31): EPS=-0.17 | Chg30d=+0.000 | Revisions Net=-1 | Analysts=6
EPS next Year (2026-12-31): EPS=-0.57 | Chg30d=+0.000 | Revisions Net=+1 | Growth EPS=-18.2% | Growth Revenue=+1.2%

Additional Sources for ADPT Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle