Adaptive Biotechnologies (ADPT) AI Stock Analysis

• Market Cap: $1.62B
• Dividend Yield: N/A
• Average Volume (3M): 2.11M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.78
• Revenue Growth: 8.61%
• EPS Growth: 35.36%
• Country: US
• Employees: 619
• Sector: Healthcare
• Sector Strength: 37
• Industry: Biotechnology
• EPS (TTM): -0.20
• Shares Outstanding: 151,916,720
• 10 Day Avg. Volume: 1,590,167
• 30 Day Avg. Volume: 2,114,971
• PEG Ratio: -0.98
• Price to Book (P/B): 8.67
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -18.93
• Enterprise Value/Market Cap: 1.06
• Enterprise Value/Revenue: 2.40
• Enterprise Value/Gross Profit: 14.83
• Enterprise Value/Ebitda: -2.91
• 1Y Price Target: $11.86
• Price Target Upside: 11.26% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8

• Rating: 59 Neutral
• Price Target: $11.50 ▲(7.88%Upside)

The overall stock score is influenced heavily by financial performance challenges and valuation concerns, despite positive earnings call developments and technical trends. The company's strategic initiatives and shareholder confidence present potential for future growth, but current financial instability and valuation issues weigh down the score.

Positive Factors

Medicare Coverage

Expanded Medicare coverage of clonoSEQ for mantle cell lymphoma sets a path for broader surveillance testing in other core heme indications.

Product Pricing

The clonoSEQ tests saw an increase in average selling prices, contributing to overall revenue growth.

Revenue Growth

The company showed significant growth in clinical testing and pharma sequencing, supported by milestones recognized in the quarter.

Negative Factors

Cash Burn

ADPT has put explicit guardrails around limiting IM cash burn and made progress on initiatives to accelerate and drive sustained penetration in MRD.

Immune Medicine Business

Analyst was concerned about the cash burn from ADPT’s Immune Medicine business and awaited further penetration in MRD.

Valuation Concerns

The valuation has now aligned with comparable companies, suggesting a possible period of consolidation.

Adaptive Biotechnologies Business Overview & Revenue Model

Company Description

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunoSEQ, a platform and core immunosequencing product that is used to answer translational research questions, as well as to discover new prognostic and diagnostic signals; and T-Detect COVID for the confirmation of past COVID-19 infection. It also provides clonoSEQ, a clinical diagnostic product for the detection and monitoring of minimal residual disease in patients with multiple myeloma, B cell acute lymphoblastic leukemia, and chronic lymphocytic leukemia, as well as available as a CLIA-validated laboratory developed test for patients with other lymphoid cancers; and immunoSEQ T-MAP COVID for vaccine developers and researchers to measure the T-cell immune response to vaccines. In addition, the company offers a pipeline of clinical products and services that are used for the diagnosing, monitoring, and treatment of diseases, such as cancer, autoimmune conditions, and infectious diseases. It serves the life sciences research, clinical diagnostics, and drug discovery applications. Adaptive Biotechnologies Corporation has strategic collaborations with Genentech, Inc. for the development, manufacture, and commercialization of neoantigen directed T cell therapies for the treatment of a range of cancers; and Microsoft Corporation to develop diagnostic tests for the early detection of various diseases from a single blood test. The company was formerly known as Adaptive TCR Corporation and changed its name to Adaptive Biotechnologies Corporation in December 2011. Adaptive Biotechnologies Corporation was incorporated in 2009 and is headquartered in Seattle, Washington.

How the Company Makes Money

Adaptive Biotechnologies generates revenue through several key streams. Firstly, the company offers immunosequencing services to academic research institutions and biopharmaceutical companies, providing insights into the adaptive immune system. This service is pivotal for research and development in personalized medicine and therapeutic interventions. Additionally, Adaptive Biotechnologies has developed clinical diagnostic products, such as clonoSEQ, which is used for detecting minimal residual disease in blood cancers, thus providing another revenue source. The company also benefits from partnerships and collaborations with major pharmaceutical companies, which help in expanding its research capabilities and market reach, contributing to its earnings.

Adaptive Biotechnologies Financial Statement Overview

Summary

Adaptive Biotechnologies is experiencing revenue growth, but ongoing losses and negative cash flow present significant challenges. Despite a moderate debt-to-equity ratio, shrinking stockholders' equity and declining total assets indicate weakening financial stability.

Income Statement

Adaptive Biotechnologies has shown revenue growth with a TTM (Trailing-Twelve-Months) revenue increase from $178.96M to $189.53M. However, persistent negative net income and EBIT margins indicate ongoing challenges in achieving profitability. The gross profit margin remains positive, highlighting effective cost management despite overall losses.

Balance Sheet

The company's debt-to-equity ratio is moderate, indicating manageable leverage. However, shrinking stockholders' equity and declining total assets suggest weakening financial stability. The equity ratio shows a decreasing trend, reflecting increased liabilities relative to assets.

Cash Flow

Negative free cash flow persists, though there is a slight reduction in operating cash outflows. The free cash flow to net income ratio remains unfavorable, indicating challenges in translating operations into positive cash flows. The operating cash flow to net income ratio suggests inefficiencies in converting income into cash.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	178.96M	170.28M	185.31M	154.34M	98.38M
Gross Profit	106.88M	94.72M	127.40M	105.04M	75.85M
EBITDA	-128.76M	-189.27M	-167.98M	-193.34M	-144.34M
Net Income	-159.49M	-225.25M	-142.46M	-205.61M	-139.64M
Balance Sheet
Total Assets	539.38M	661.13M	856.62M	923.34M	1.12B
Cash, Cash Equivalents and Short-Term Investments	222.29M	346.40M	498.20M	353.06M	688.27M
Total Debt	89.39M	229.43M	108.00M	111.74M	107.86M
Total Liabilities	336.89M	352.86M	392.52M	319.24M	373.15M
Stockholders Equity	202.71M	308.40M	464.17M	603.99M	743.27M
Cash Flow
Free Cash Flow	-98.88M	-167.02M	-200.29M	-254.47M	-168.49M
Operating Cash Flow	-95.21M	-156.32M	-183.94M	-192.73M	-149.68M
Investing Cash Flow	77.79M	129.65M	2.90M	181.21M	-117.04M
Financing Cash Flow	241.00K	2.25M	132.26M	27.15M	293.59M

Adaptive Biotechnologies Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 10.66
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ADPT, the sentiment is Positive. The current price of 10.66 is below the 20-day moving average (MA) of 11.30, above the 50-day MA of 10.42, and above the 200-day MA of 7.76, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 46.83 is Neutral, neither overbought nor oversold. The STOCH value of 25.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ADPT.

Adaptive Biotechnologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IMCR	64 Neutral	$1.77B	―	-5.78%	―	25.50%	64.63%
Sector *	60 Neutral	HK$17.07B	6.10	-7.44%	2.88%	11.55%	-28.15%
ADPT	59 Neutral	$1.62B	―	-60.96%	―	8.61%	35.36%
IOVA	57 Neutral	$1.10B	―	-51.85%	―	11070.12%	32.07%
SNDX	48 Neutral	$859.61M	―	-93.70%	―	―	-25.83%
ETNB	42 Neutral	$1.46B	―	-69.30%	―	―	-68.13%
PHVS	42 Neutral	$1.09B	―	-51.85%	―	―	0.71%

Adaptive Biotechnologies Corporate Events

Adaptive Biotechnologies Holds Annual Shareholders Meeting

On June 10, 2025, Adaptive Biotechnologies held its annual shareholders meeting, where three proposals were voted on. These included the election of Chad Robins as a Class III director, an advisory vote on executive compensation for 2024, and the ratification of Ernst & Young LLP as the independent public accounting firm for 2025. All proposals were approved with significant support, reflecting strong shareholder confidence in the company’s leadership and strategic direction.

The most recent analyst rating on (ADPT) stock is a Buy with a $7.00 price target. To see the full list of analyst forecasts on Adaptive Biotechnologies stock, see the ADPT Stock Forecast page.