Adaptive Biotechnologies Corporation
$15.99
+5.0%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.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
Medium confidenceValuation multiple is compressed (P/E -41.0).
Valuation inputs: P/E -41.0, earnings yield N/A, momentum +5.0%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is soft (ROE -27.2%, ROIC -13.1%).
Profitability stack: net margin -21.5%, ROE -27.2%, ROIC -13.1%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceRisk profile is balanced but has notable pressure points to monitor.
Risk factors: liabilities/assets +56.1%, momentum +5.0%, net margin -21.5%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
Adaptive Biotechnologies Corporation Market vs Earnings Trajectory
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Adaptive Biotechnologies Corporation Fair Value Envelope
Adaptive Biotechnologies Corporation Profit Bridge
Profitability Analysis
Gross Margin
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating Margin
Operating losses indicate the core business is unprofitable. Requires restructuring or revenue growth.
Net Profit Margin
Net losses indicate the company is burning cash. Sustainability depends on path to profitability.
Profitability Insight
Margin squeeze alert: Healthy gross margins but weak operating margins suggest excessive operating expenses. Cost optimization could unlock significant value.
Adaptive Biotechnologies Corporation Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Strong cash conversion. Most reported earnings translate into actual cash flow, suggesting solid fundamentals.
CapEx Intensity
Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.
FCF Growth Trend
Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.
Working Capital Impact
Significant working capital drain. Growth may be consuming cash through inventory buildup or receivables extension—monitor closely.
Cash Flow Quality Insight
Working capital strain: Significant cash tied up in operations. Monitor receivables collection, inventory turns, and payment terms to optimize cash conversion cycle.
Adaptive Biotechnologies Corporation Funding & Solvency Profile
Financial Health Analysis
Current Ratio
Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.
Debt-to-Equity Ratio
Elevated leverage. Debt exceeds equity, which amplifies both gains and risks. Monitor debt servicing ability.
Working Capital
Strong working capital position provides significant operational flexibility and financial cushion.
Asset Composition
Balanced asset mix between current and non-current assets, typical of many stable businesses.
Adaptive Biotechnologies Corporation Street Expectations Map
Wall Street analysts project that ADPT stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 21.33, with estimates ranging from a low of 21.00 to a high of 22.00.
The consensus 1-year price target stands at 21.33, with estimates ranging from a low of 21.00 to a high of 22.00.
Analyst Consensus Analysis
Upside Potential
Substantial upside potential. Analysts see significant value gap, suggesting the stock may be materially undervalued at current levels.
Analyst Agreement
High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.
Analyst Conviction
Strong buy conviction: High upside with tight consensus suggests compelling investment opportunity backed by analyst confidence.
Market Sentiment Insight
Rare opportunity: Exceptional upside potential with strong analyst consensus creates a compelling setup. The combination of significant price target premium and tight agreement suggests high-conviction undervaluation that may attract institutional capital.
Adaptive Biotechnologies Corporation Insider Positioning
During the last 12 months, insiders have sold $50.46M worth of ADPT shares, with no buying activity reported.
3 Months
0
0.00
874.6K
12.34M
-12.3M
-$12.34M
3-6 Months
0
0.00
1.2M
19.38M
-19.4M
-$19.38M
6-9 Months
0
0.00
1.1M
18.74M
-18.7M
-$18.74M
9-12 Months
0
0.00
0
0.00
+0
+$0
Top Buyers
No buying activity
Top Sellers
Robins Chad M
Director, Officer: Ceo And Chairman
$18.69M
Rubinstein Julie
Officer: President And Coo
$10.43M
Benzeno Sharon
Officer: Chief Commercial Ofc Imm Med
$10.36M
Lo Francis
Officer: Chief People Officer
$4.23M
Piskel Kyle
Officer: Chief Financial Officer
$3.34M
Insider Activity Analysis
Net Insider Sentiment
Strong bearish signal with $50.46M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.
Buy/Sell Ratio
Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.
Recent Trend (3 Months)
Heavy recent selling activity. Recent insider sales notably exceed purchases—may warrant investigation into company developments.
Insider Participation
5 insider sellers vs. 0 buyers. Widespread selling across multiple insiders may signal concerns.
Insider Activity Insight
Multiple red flags: Heavy selling, numerous sellers, and continued recent selling create a concerning pattern. Investigate fundamental drivers and consider whether company guidance or industry conditions have deteriorated.
No Dividend Yield Data
ADPT has not reported any dividend yield values in the available annual periods.
adpt Dividend History
Learning Layer
Related Guides
Build conviction on ADPT by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.