ADPT

Adaptive Biotechnologies Corporation

Fundamental data last updated:June 7, 2026

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company profile

SECTOR

Healthcare

industry

Biotechnology

Exchange

NASDAQ

County of HQ

US

Next Earnings Date

08/04/2026

Business Summary

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.

 


VALUATION

P/E

-47.55

Market Cap ($M USD)

$2.43B

Forward P/E

1519.00

PEG

14.73

PRICE TO SALES

8.23

PRICE TO BOOK

10.92

EV / EBITDA

-116.28

5-Year Average P/E

Free Cash Flow Yield

-1.21%

DCF Value

$-27.46

Graham Number

N/A

Price to FCF

-82.31

EV to FCF

-86.73

Earnings Yield

-2.10%

FCF Yield

-1.21%

DIVIDEND

Yield

0.00%

Annual Payout

$0.00

Payout Ratio

0.00%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

-$0.32

Next Year EPS Growth Estimate

$0.01

Next Year Revenue Growth Estimate

$65.80B

Return on Equity (ROE)

-24.26%

FREE CASH FLOW

Operating Margin

-15.82%

Debt-to-Equity

1.28

Piotroski F-Score

4

Altman Z-Score

1.77

Return on Invested Capital (ROIC)

-11.15%

Current Ratio

3.35

Quick Ratio

3.22

Net Debt to EBITDA

-5.93

Interest Coverage

-3.97

Gross Profit margin

75.26%

FCF PER SHARE

$-0.19

REVENUE PER SHARE

$1.90

Gainseekers Quantitative Analysis

Summary

The market has priced Adaptive Biotechnologies Corporation with a Forward P/E of 1381, suggesting sky-high growth expectations. However, the negative Earnings Yield and a troubling Altman Z-score of 1.70 indicate financial distress and potential risk of insolvency. The stock’s valuation is severely misaligned with its DCF Value, hinting at overvaluation. Despite a “Buy” consensus, the numbers paint a picture of a company struggling to justify its current market cap.

AI Exposure / Tech Reliance

Operating in the biotechnology sector, Adaptive Biotechnologies is well-positioned to leverage AI advancements in genomic sequencing and personalized medicine. The industry's rapid evolution aligns with tech-driven healthcare solutions, offering potential for innovation. However, execution will be key in capitalizing on these opportunities.

The Bull Case

For the optimistic investor, the company's Gross Profit Margin of 75.26% suggests strong pricing power. A Current Ratio of 3.35 indicates robust liquidity, while a Piotroski F-Score of 4 shows moderate financial health. These metrics, combined with a promising EPS estimate for next year, could entice those betting on a turnaround.

The Bear Case

The bear case is glaring, with a Price/Book ratio nearing 10 and a Price/Sales ratio of 7.48, signaling overvaluation. The negative Free Cash Flow Yield and a dismal ROIC of -11.15% highlight inefficiencies in capital deployment. Coupled with a high Debt/Equity ratio, these factors underscore significant structural risks.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Buy

Average Analyst Price Target

$21.25

Institutional Ownership %

1-Year Beta

2.16

Insider Buying % (6 Mo)

Distance to 52-Week High

36.67%

Distance to 52-Week Low

40.29%

EARNINGS SURPRISE %

18.75%

50-DAY SMA

$13.88

200-DAY SMA

$15.16

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.