ADPT Stock Analysis: Adaptive Biotechnologies | NASDAQ
Diagnostics & Research | NASDAQ, USA | Market Cap: 4.282m USD | 12M Return: 79.8% | US00650F1093 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 50.1M
Qual. Beats: 1
Rev. Trend: 94.7%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 7.2 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 develops an immune medicine platform leveraging proprietary chemistry, computational biology, and machine learning to analyze the adaptive immune system. Its flagship clinical product, the clonoSEQ diagnostic test, is used to detect and monitor minimal residual disease (MRD) in cancer patients during and after treatment, making it one of the few FDA-cleared MRD assays in the life sciences tools and services sector.
The company operates across three primary markets: life sciences research, clinical diagnostics, and drug discovery, serving pharmaceutical and academic customers with immunomics data and immune receptor sequencing capabilities. Incorporated in 2009 (originally as Adaptive TCR Corporation) and public since its June 2019 IPO, Adaptive monetizes its platform through reagent kits, diagnostic testing services, and collaborations with drug developers seeking immune receptor-based biomarkers and target discovery support.
- clonoSEQ MRD test revenue accelerates with broader reimbursement coverage
- Genentech drug discovery partnership drives milestone and royalty payments
- Operating cash burn raises concerns on path to profitability
| Net Income: -70.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.02 > 0.02 and ΔFCF/TA 0.50 > 1.0 |
| NWC/Revenue: 98.56% < 20% (prev 78.37%; Δ 20.19% < -1%) |
| CFO/TA -0.01 > 3% & CFO -4.28m > Net Income -70.5m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 3.97 > 1.5 & < 3 |
| Outstanding Shares: last quarter (186.9m) vs 12m ago 14.54% < -2% |
| Gross Margin: 74.01% > 18% (prev 71.84%; Δ 2.17% > 0.5%) |
| Asset Turnover: 50.78% > 50% (prev 51.52%; Δ -0.74% > 0%) |
| Interest Coverage Ratio: -5.33 > 6 (EBIT TTM -48.2m / Interest Expense TTM 9.04m) |
| A: 0.43 (Total Current Assets 392.7m - Total Current Liabilities 99.0m) / Total Assets 683.1m |
| B: -2.08 (Retained Earnings -1.42b / Total Assets 683.1m) |
| C: -0.08 (EBIT TTM -48.2m / Avg Total Assets 586.9m) |
| D: 0.35 (Book Value of Equity 176.2m / Total Liabilities 499.2m) |
| Altman-Z'' = -4.14 = D |
| DSRI: 1.22 (Receivables 66.7m/46.3m, Revenue 298.0m/252.8m) |
| GMI: 0.97 (GM 71.84% / 74.01%) |
| AQI: 1.24 (AQ_t 0.33 / AQ_t-1 0.26) |
| SGI: 1.18 (Revenue 298.0m / 252.8m) |
| TATA: -0.10 (NI -70.5m - CFO -4.28m) / TA 683.1m) |
| Beneish M = -2.61 (Cap -4..+1) = A |
As of November 08, 2026, the stock is trading at USD 27.98 with a total of 3,333,525 shares traded. Over the past week, the price has changed by +5.03%, over one month by +4.01%, over three months by +18.56% and over the past year by +79.82%.
Current recommended Stop Loss: 25.60 (which is 8.5% or 1.5 ATR below the current price).
Adaptive Biotechnologies has received a consensus analysts rating of 4.75. Therefore, it is recommended to buy ADPT.
- StrongBuy: 6
- Buy: 2
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 30.2 | 8% |
P/S = 13.8988
P/B = 29.8501
Revenue TTM = 298.0m USD
EBIT TTM = -48.2m USD
EBITDA TTM = -30.4m USD
Long Term Debt = 334.9m USD (from longTermDebt, two quarters ago)
Short Term Debt = 9.14m USD (from shortTermDebt, last quarter)
Debt = 484.6m USD (from shortLongTermDebtTotal, last quarter) + Leases 75.6m
Net Debt = 185.6m USD (calculated: Debt 484.6m - CCE 299.0m)
Enterprise Value = 4.47b USD (4.28b + Debt 484.6m - CCE 299.0m)
Interest Coverage Ratio = -5.33 (Ebit TTM -48.2m / Interest Expense TTM 9.04m)
EV/FCF = -324.0x (Enterprise Value 4.47b / FCF TTM -13.8m)
FCF Yield = -0.31% (FCF TTM -13.8m / Enterprise Value 4.47b)
FCF Margin = -4.63% (FCF TTM -13.8m / Revenue TTM 298.0m)
Net Margin = -23.66% (Net Income TTM -70.5m / Revenue TTM 298.0m)
Gross Margin = 74.01% ((Revenue TTM 298.0m - Cost of Revenue TTM 77.5m) / Revenue TTM)
Gross Margin QoQ = 76.24% (prev 71.23%)
Tobins Q-Ratio = 6.54 (Enterprise Value 4.47b / Total Assets 683.1m)
Interest Expense / Debt = 1.87% (Interest Expense 9.04m / Debt 484.6m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -38.1m (EBIT -48.2m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 3.72 (Total Current Assets 392.7m / Total Current Liabilities 105.5m)
Debt / Equity = 2.75 (Debt 484.6m / totalStockholderEquity, last quarter 176.2m)
Debt / EBITDA = -6.11 (negative EBITDA) (Net Debt 185.6m / EBITDA -30.4m)
Debt / FCF = -13.46 (negative FCF - burning cash) (Net Debt 185.6m / FCF TTM -13.8m)
Total Stockholder Equity = 188.6m (last 4 quarters mean from totalStockholderEquity)
RoA = -12.02% (Net Income -70.5m / Total Assets 683.1m)
RoE = -37.40% (Net Income TTM -70.5m / Total Stockholder Equity 188.6m)
RoCE = -9.21% (EBIT -48.2m / Capital Employed (Equity 188.6m + L.T.Debt 334.9m))
RoIC = -6.58% (negative operating profit) (NOPAT -38.1m / Invested Capital 578.4m)
WACC = 8.90% (E(4.28b)/V(4.77b) * Re(9.74%) + D(484.6m)/V(4.77b) * Rd(1.87%) * (1-Tc(0.21)))
Discount Rate = 9.74% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 74.95 | Cagr: 11.12%
[DCF] Fair Price = unknown (Cash Flow -13.8m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 3.24 | # QB: 1
Revenue Correlation: 94.70 | Revenue CAGR: 29.60% | SUE: 1.49 | # QB: 1
EPS current Quarter (2027-03-31): EPS=-0.10 | Chg30d=+1.96% | Revisions=+25% | Analysts=5
EPS current Year (2026-12-31): EPS=-0.54 | Chg30d=+0.02% | Revisions=+0% | GrowthEPS=-39.1% | GrowthRev=+5.9%
EPS next Year (2027-12-31): EPS=-0.18 | Chg30d=+0.88% | Revisions=+50% | GrowthEPS=+66.8% | GrowthRev=+22.8%
[Analyst] Revisions Ratio: +44% (up=5, down=1)