Adaptive Biotechnologies/$ADPT
1D1W1MYTD1Y5YMAX
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About Adaptive Biotechnologies
Adaptive Biotechnologies Corp is a company advancing the field of immune-driven medicine by harnessing the inherent biology of the adaptive immune system to transform the diagnosis and treatment of disease. Its clinical diagnostic product, clonoSEQ, is a test authorized by the FDA for the detection and monitoring of minimal residual disease (MRD) in patients with multiple myeloma (MM), B cell acute lymphoblastic leukemia (ALL) and chronic lymphocytic leukemia (CLL) and is also available as a CLIA-validated laboratory developed test (LDT) for patients with other lymphoid cancers. The company has two operating segments: Minimal Residual Disease and Immune Medicine. The company generates the majority of its revenue from the Minimal Residual Disease segment.
- Ticker
- $ADPT
- Sector
- Health
- Primary listing
- NASDAQ
- Employees
- 624
- Headquarters
- Seattle, United States
- Website
- www.adaptivebiotech.com
ADPT Metrics
BasicAdvanced
$4.7B
-
-$0.41
2.09
-
Price and volume
Market cap
$4.7B
Beta
2.09
52-week high
$29.96
52-week low
$12.00
Average daily volume
2.1M
Financial strength
Current ratio
4.795
Quick ratio
4.51
Long term debt to equity
2.666
Total debt to equity
2.725
Interest coverage (TTM)
-3.26%
Profitability
EBITDA (TTM)
-21.327
Gross margin (TTM)
46.94%
Net profit margin (TTM)
-20.73%
Operating margin (TTM)
-12.16%
Revenue per employee (TTM)
$490,000
Management effectiveness
Return on assets (TTM)
-4.12%
Return on equity (TTM)
-38.76%
Valuation
Price to revenue (TTM)
14.83
Price to book
32.75
Price to tangible book (TTM)
203.02
Price to free cash flow (TTM)
-190.105
Free cash flow yield (TTM)
-0.53%
Free cash flow per share (TTM)
-0.155
Growth
Revenue change (TTM)
50.13%
Earnings per share change (TTM)
-49.41%
3-year revenue growth (CAGR)
17.56%
3-year earnings per share growth (CAGR)
-32.39%
What the Analysts think about ADPT
Analyst ratings (Buy, Hold, Sell) for Adaptive Biotechnologies stock.
Analyst projections of the future price of Adaptive Biotechnologies stock.
Bulls say / Bears say
Demand for Adaptive’s core minimal residual disease (MRD) testing is accelerating: Q2 revenue rose 33% year on year and clonoSEQ test volume rose 43% to 36,111. Management raised 2026 MRD revenue guidance to $268m-$278m, implying 26%-31% growth. (Adaptive Biotechnologies)
MRD is beginning to show operating leverage: the company reported MRD adjusted EBITDA of $9.1m in Q2 and says it remains on track for company-wide positive adjusted EBITDA and free cash flow by year-end. Cash, cash equivalents and marketable securities of $371.7m at June-end provide additional execution runway. (Investing.com, Adaptive Biotechnologies)
Separating MRD from Immune Medicine could make the profitable diagnostics business easier to value and reduce the drag from the weaker unit. Adaptive says MRD has reached profitability and expects to identify its preferred separation route by year-end 2026. (Adaptive Biotechnologies)
Despite strong MRD growth, the consolidated business remains loss-making: Q2 net loss was $39.9m, operating expenses were $87.3m, and Immune Medicine revenue fell 40% year on year to $5.4m. The separation is not complete, so shareholders still carry this drag and its execution risk. (Adaptive Biotechnologies)
The new financing improves liquidity but adds capital-structure risk: Adaptive issued $345m of zero-coupon convertible notes due 2031, and future conversion could dilute shareholders despite the capped-call arrangements. Investors still need the company to turn growth into sustained cash generation before this risk matters less. (Last10K)
Revenue is concentrated and partly lumpy: MRD generated 92% of Q2 revenue, while 2026 guidance includes $9m of milestone revenue recognised in Q1 and assumes no further milestones in the second half. A slowdown in clonoSEQ adoption, reimbursement or pharma study activity would therefore have an outsized effect. (Adaptive Biotechnologies)
Data summarised monthly by Lightyear AI. Last updated on 15 Sept 2026.
ADPT Financial Performance
Revenues and expenses
ADPT Earnings Performance
Company profitability
Upcoming events
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ADPT News
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Funds containing ADPT
AllUSDEURGBP
Fund name | Fund size | $ADPT weighting |
|---|---|---|
iShares Healthcare Innovation$HEAL | $1.4B | 0.47% |
iShares Healthcare Innovation€2B78 | €1.2B | 0.47% |
iShares Healthcare Innovation£DRDR | £1B | 0.47% |
iShares Nasdaq US Biotechnology$BTEC | $1.2B | 0.31% |
iShares Nasdaq US Biotechnology£BTEK | £865M | 0.31% |
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
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