ADPT Stock Analysis: Adaptive Biotechnologies | NASDAQ
Diagnostics & Research | NASDAQ, USA | Market Cap: 3.875m USD | 12M Return: 93.6% | US00650F1093 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 47.6M
Qual. Beats: 0
Rev. Trend: 90.6%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 7.1 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Adaptive Biotechnologies Corporation (NASDAQ: ADPT) is a commercial-stage health care company headquartered in Seattle, Washington, that operates an immune medicine platform used for disease diagnosis and treatment. Its core offering is an immunosequencing platform that combines proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data for decoding the adaptive immune system. The companys flagship diagnostic product, the clonoSEQ test, is used to detect and monitor Minimal Residual Disease (MRD) in cancer patients during and after treatment.
Adaptive serves three primary markets: life sciences research, clinical diagnostics, and drug discovery. Originally incorporated in 2009 as Adaptive TCR Corporation, the company rebranded to its current name in December 2011 and went public on the NASDAQ in June 2019. As a mid-cap stock in the Life Sciences Tools & Services sub-industry, ADPT operates at the intersection of genomics, diagnostics, and therapeutic development, leveraging immune system data for both clinical and research applications.
- clonoSEQ MRD test volume growth accelerates revenue
- Drug discovery partnerships generate milestone and collaboration revenue
- Reimbursement coverage expansion unlocks clonoSEQ addressable market
| Net Income: -63.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.00 > 0.02 and ΔFCF/TA 10.40 > 1.0 |
| NWC/Revenue: 108.0% < 20% (prev 82.70%; Δ 25.34% < -1%) |
| CFO/TA -0.03 > 3% & CFO -21.0m > Net Income -63.9m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 4.79 > 1.5 & < 3 |
| Outstanding Shares: last quarter (157.7m) vs 12m ago 3.69% < -2% |
| Gross Margin: 75.44% > 18% (prev 66.04%; Δ 9.40% > 0.5%) |
| Asset Turnover: 54.18% > 50% (prev 41.32%; Δ 12.86% > 0%) |
| Interest Coverage Ratio: -2.79 > 6 (EBIT TTM -32.1m / Interest Expense TTM 11.5m) |
| A: 0.52 (Total Current Assets 420.6m - Total Current Liabilities 87.7m) / Total Assets 640.7m |
| B: -2.22 (Retained Earnings -1.42b / Total Assets 640.7m) |
| C: -0.06 (EBIT TTM -32.1m / Avg Total Assets 568.7m) |
| D: 0.29 (Book Value of Equity 142.9m / Total Liabilities 490.0m) |
| Altman-Z'' = -3.91 = D |
| DSRI: 0.74 (Receivables 49.5m/44.3m, Revenue 308.1m/205.2m) |
| GMI: 0.88 (GM 66.04% / 75.44%) |
| AQI: 0.78 (AQ_t 0.24 / AQ_t-1 0.30) |
| SGI: 1.50 (Revenue 308.1m / 205.2m) |
| TATA: -0.07 (NI -63.9m - CFO -21.0m) / TA 640.7m) |
| Beneish M = -3.13 (Cap -4..+1) = AA |
As of September 08, 2026, the stock is trading at USD 24.28 with a total of 1,404,316 shares traded. Over the past week, the price has changed by -3.61%, over one month by -2.61%, over three months by +45.39% and over the past year by +93.62%.
Current recommended Stop Loss: 22.60 (which is 6.9% or 1.4 ATR below the current price).
Adaptive Biotechnologies has received a consensus analysts rating of 4.25. Therefore, it is recommended to buy ADPT.
- StrongBuy: 3
- Buy: 4
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 25.1 | 3.3% |
P/S = 12.5778
P/B = 27.438
Revenue TTM = 308.1m USD
EBIT TTM = -32.1m USD
EBITDA TTM = -16.0m USD
Long Term Debt = 334.9m USD (from longTermDebt, last quarter)
Short Term Debt = 8.82m USD (from shortTermDebt, last quarter)
Debt = 486.1m USD (from shortLongTermDebtTotal, last quarter) + Leases 75.6m
Net Debt = 141.9m USD (calculated: Debt 486.1m - CCE 344.3m)
Enterprise Value = 4.02b USD (3.87b + Debt 486.1m - CCE 344.3m)
Interest Coverage Ratio = -2.79 (Ebit TTM -32.1m / Interest Expense TTM 11.5m)
EV/FCF = -1000.0x (Enterprise Value 4.02b / FCF TTM -2.28m)
FCF Yield = -0.06% (FCF TTM -2.28m / Enterprise Value 4.02b)
FCF Margin = -0.74% (FCF TTM -2.28m / Revenue TTM 308.1m)
Net Margin = -20.73% (Net Income TTM -63.9m / Revenue TTM 308.1m)
Gross Margin = 75.44% ((Revenue TTM 308.1m - Cost of Revenue TTM 75.7m) / Revenue TTM)
Gross Margin QoQ = 71.23% (prev 73.60%)
Tobins Q-Ratio = 6.27 (Enterprise Value 4.02b / Total Assets 640.7m)
Interest Expense / Debt = 2.37% (Interest Expense 11.5m / Debt 486.1m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -25.4m (EBIT -32.1m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 4.52 (Total Current Assets 420.6m / Total Current Liabilities 93.0m)
Debt / Equity = 3.40 (Debt 486.1m / totalStockholderEquity, last quarter 142.9m)
Debt / EBITDA = -8.89 (negative EBITDA) (Net Debt 141.9m / EBITDA -16.0m)
Debt / FCF = -62.20 (negative FCF - burning cash) (Net Debt 141.9m / FCF TTM -2.28m)
Total Stockholder Equity = 195.6m (last 4 quarters mean from totalStockholderEquity)
RoA = -11.23% (Net Income -63.9m / Total Assets 640.7m)
RoE = -32.64% (Net Income TTM -63.9m / Total Stockholder Equity 195.6m)
RoCE = -6.05% (EBIT -32.1m / Capital Employed (Equity 195.6m + L.T.Debt 334.9m))
RoIC = -4.64% (negative operating profit) (NOPAT -25.4m / Invested Capital 546.4m)
WACC = 9.75% (E(3.87b)/V(4.36b) * Re(10.74%) + D(486.1m)/V(4.36b) * Rd(2.37%) * (1-Tc(0.21)))
Discount Rate = 10.74% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 79.66 | Cagr: 3.55%
[DCF] Fair Price = unknown (Cash Flow -2.28m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.82 | # QB: 0
Revenue Correlation: 90.58 | Revenue CAGR: 26.20% | SUE: 0.73 | # QB: 0
EPS current Quarter (2026-09-30): EPS=-0.10 | Chg30d=+15.70% | Revisions=+70% | Analysts=7
EPS current Year (2026-12-31): EPS=-0.54 | Chg30d=-18.32% | Revisions=-70% | GrowthEPS=-38.7% | GrowthRev=+5.9%
EPS next Year (2027-12-31): EPS=-0.18 | Chg30d=+26.97% | Revisions=+38% | GrowthEPS=+65.9% | GrowthRev=+22.3%
[Analyst] Revisions Ratio: +14% (up=11, down=8)