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/ADPT
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Adaptive Biotechnologies Corp

Adaptive Biotechnologies Corp

ADPT
$22.92USD↑+3.71%+0.82 today

MARKET CAP

3.7B

P/E (TTM)

—

FWD P/E

—

DAY RANGE

$21 – $23

52W RANGE

$10
$23

AI Summary

Stalk
Buy NowMedium

ADPT remains in a clean Stage 2 advancing regime with rising, nested EMAs and institutional volume support. The recent pullback into the 9 and 21 EMAs around the prior resistance zone offers a structurally sound entry point. Despite extreme Options overbought conditions, this retracement appears to be healthy consolidation rather than exhaustion. Buying now on this pullback into the EMAs aligns with the prevailing medium-term uptrend.

  • ↑45% YoY total revenue to $70.9M, led by 53% MRD sales surge.
  • ↑Gross margin expanded to 70% (+8pp YoY); MRD segment delivered $12.1M adjusted EBITDA.
  • ↓Net loss of $20M in Q1; negative earnings yield and high volatility risk.
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Adaptive Biotechnologies Corp. (NASDAQ: ADPT) operates in the life science sector, focusing primarily on precision medicine through its proprietary ClonoSeq technology for Minimal Residual Disease (MRD) detection and monitoring. The company is well-positioned in the oncology diagnostics space, leveraging its innovative testing solutions to improve patient outcomes in blood cancers. With key partnerships in biopharmaceuticals and an emphasis on community integration through electronic medical records (EMR), Adaptive is aiming to transform cancer treatment protocols.

Bull says

  • ↑45% YoY total revenue to $70.9M, led by 53% MRD sales surge.
  • ↑Gross margin expanded to 70% (+8pp YoY); MRD segment delivered $12.1M adjusted EBITDA.
  • ↑FDA cleared clonoSEQ in CAR-T trials; EMR integration lifted community testing to 35%.
  • ↑Raised full-year MRD revenue guidance to $260–270M on strong clinical volume.
  • ↑Moderate Buy consensus; short interest down to 7.2%, signaling improving sentiment.
  • ↑$222M cash on hand and positive operating cash flow support expansion.

Bear says

  • ↓Net loss of $20M in Q1; negative earnings yield and high volatility risk.
  • ↓Projected cash burn of $45–55M strains finances despite $222M cash balance.
  • ↓Regulatory and reimbursement shifts could cut future MRD revenue growth.
  • ↓Rising MRD competition and $300M convertible notes may dilute shares.
  • ↓High interest-rate sensitivity and volatile stock behavior pose stability risks.
  • ↓Skepticism over durable MRD growth if long-term contracts fail to materialize.

Investment themes with ADPT

Recent IPOs↓ -0.74%

Companies that recently went public

SNOW · PLTR · PTON

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 05-09-2026bullish

Transcript signals

Bull points

  • Given the strength we're seeing in the MRD business, we are raising our full-year MRD revenue guidance to a range of $260 to $270 million.
  • We delivered one of the strongest quarters to date in MRD pharma, with revenue growing 53% year over year, or 33% excluding milestones.
  • strong top-line growth combined with continued operational efficiencies, positions us to achieve over 70% sequence in gross margin and expand adjusted EBITDA.

Bear points

  • Immune medicine revenue was $3.8 million, down 26% from a year ago, primarily due to timing of sample receipts and processing.
  • Net loss for the quarter was $20 million, including approximately $2.9 million of interest expense related to our royalty financing agreement with ORPOT.
Read full transcript analysis ›