ADPT

Company Overview — What Does Adaptive Biotechnologies Corp Do?

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. Adaptive Biotechnologies Corp (ADPT) is classified as a mid-cap stock in the Healthcare sector, specifically within the Pharmaceutical Products industry. The company is led by CEO Chad Robins and employs approximately 790 people. With a market capitalization of $2.2B, ADPT is one of the notable companies in the Healthcare sector.

Adaptive Biotechnologies Corp (ADPT) Stock Rating — Reduce (April 2026)

As of April 2026, Adaptive Biotechnologies Corp receives a Reduce rating with a composite score of 38.5/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.ADPT ranks #2,590 out of 4,446 stocks in our coverage universe. Within the Healthcare sector, Adaptive Biotechnologies Corp ranks #336 of 838 stocks, placing it in the upper half of its Healthcare peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

ADPT Stock Price and 52-Week Range

Adaptive Biotechnologies Corp (ADPT) currently trades at $13.00. The stock lost $0.40 (3.0%) in the most recent trading session. The 52-week high for ADPT is $20.76, which means the stock is currently trading -37.4% from its annual peak. The 52-week low is $6.67, putting the stock 94.8% above its annual trough. Recent trading volume was 3.3M shares, reflecting moderate market activity.

Is ADPT Overvalued or Undervalued? — Valuation Analysis

Adaptive Biotechnologies Corp (ADPT) carries a value factor score of 31/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The trailing price-to-earnings ratio is 207.50x, compared to the Healthcare sector average of 23.63x — a premium of 778%. The price-to-book ratio stands at 9.38x, versus the sector average of 2.75x. The price-to-sales ratio is 8.39x, compared to 1.66x for the average Healthcare stock. On an enterprise value basis, ADPT trades at 38.38x EV/EBITDA, versus 6.34x for the sector.

At current multiples, Adaptive Biotechnologies Corp trades at a premium to most Healthcare peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

Adaptive Biotechnologies Corp Profitability — ROE, Margins, and Quality Score

Adaptive Biotechnologies Corp (ADPT) earns a quality factor score of 32/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -34.7%, compared to the Healthcare sector average of -43.5%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -15.2% versus the sector average of -33.1%.

On a margin basis, Adaptive Biotechnologies Corp reports gross margins of 70.5%, compared to 71.5% for the sector. The operating margin is -39.6% (sector: -66.1%). Net profit margin stands at -39.8%, versus -58.7% for the average Healthcare stock. Revenue growth is running at 117.6% on a trailing basis, compared to 10.6% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

ADPT Debt, Balance Sheet, and Financial Health

Adaptive Biotechnologies Corp has a debt-to-equity ratio of 128.0%, compared to the Healthcare sector average of 32.0%. Leverage is within a manageable range for the industry, though investors should monitor debt trends over time. The current ratio is 3.34x, indicating strong short-term liquidity. Total debt on the balance sheet is $132M. Cash and equivalents stand at $55M.

ADPT has a beta of 1.40, meaning it is more volatile than the broader market — a $10,000 investment in ADPT would be expected to move 40.0% more than the S&P 500 on any given day. The stability factor score for Adaptive Biotechnologies Corp is 32/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

Adaptive Biotechnologies Corp Revenue and Earnings History — Quarterly Trend

In TTM 2026, Adaptive Biotechnologies Corp reported revenue of $252M and earnings per share (EPS) of $-0.39. Net income for the quarter was $-78M. Gross margin was 70.5%. Operating income came in at $-77M.

In FY 2025, Adaptive Biotechnologies Corp reported revenue of $277M and earnings per share (EPS) of $-0.39. Net income for the quarter was $-59M. Gross margin was 74.2%. Revenue grew 54.8% year-over-year compared to FY 2024. Operating income came in at $-57M.

In Q3 2025, Adaptive Biotechnologies Corp reported revenue of $94M and earnings per share (EPS) of $0.06. Net income for the quarter was $10M. Gross margin was 80.7%. Revenue grew 102.4% year-over-year compared to Q3 2024. Operating income came in at $10M.

In Q2 2025, Adaptive Biotechnologies Corp reported revenue of $59M and earnings per share (EPS) of $-0.17. Net income for the quarter was $-26M. Gross margin was 69.4%. Revenue grew 36.3% year-over-year compared to Q2 2024. Operating income came in at $-25M.

Over the past 8 quarters, Adaptive Biotechnologies Corp has demonstrated a growth trajectory, with revenue expanding from $43M to $252M. Investors analyzing ADPT stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

ADPT Dividend Yield and Income Analysis

Adaptive Biotechnologies Corp (ADPT) does not currently pay a dividend. This is common among smaller companies in the Pharmaceutical Products industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Healthcare dividend stocks may want to explore other Healthcare stocks or use the stock screener to filter by dividend yield.

ADPT Momentum and Technical Analysis Profile

Adaptive Biotechnologies Corp (ADPT) has a momentum factor score of 57/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 21/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 49/100 reflects moderate short selling activity.

ADPT vs Competitors — Healthcare Sector Ranking and Peer Comparison

Within the Healthcare sector, Adaptive Biotechnologies Corp (ADPT) ranks #336 out of 838 stocks based on the Blank Capital composite score. This places ADPT in the upper half of all Healthcare stocks in our coverage universe. Key competitors and sector peers include ASTRAZENECA PLC (AZN) with a score of 61.4/100, Sol-Gel Technologies Ltd. (SLGL) with a score of 56.6/100, VIEMED HEALTHCARE, INC. (VMD) with a score of 53.4/100, Innoviva, Inc. (INVA) with a score of 52.7/100, and JOHNSON & JOHNSON (JNJ) with a score of 51.7/100.

Comparing ADPT against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full ADPT vs S&P 500 (SPY) comparison to assess how Adaptive Biotechnologies Corp stacks up against the broader market across all factor dimensions.

ADPT Next Earnings Date

No upcoming earnings date has been announced for Adaptive Biotechnologies Corp (ADPT) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy ADPT? — Investment Thesis Summary

The quantitative profile for Adaptive Biotechnologies Corp suggests caution. The quality score of 32/100 flags below-average profitability. The value score of 31/100 indicates premium valuation. High volatility (stability score 32/100) increases portfolio risk.

In summary, Adaptive Biotechnologies Corp (ADPT) earns a Reduce rating with a composite score of 38.5/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on ADPT stock.

Related Resources for ADPT Investors

Explore more research and tools: ADPT vs S&P 500 comparison, top Healthcare stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare ADPT head-to-head with peers: ADPT vs AZN, ADPT vs SLGL, ADPT vs VMD.