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Adaptive Biotechnologies Corp

Adaptive Biotechnologies Corp

ADPT
$25.55USD↓-1.69%-0.44 today

MARKET CAP

4.1B

P/E (TTM)

—

FWD P/E

—

DAY RANGE

$25 – $26

52W RANGE

$12
$26

AI Summary

Stalk
Buy NowHigh

ADPT is exhibiting a clear Stage 2 advance with sustained acceptance above rising EMAs despite extreme overbought readings. Price remains tightly tracking the 9- and 20-day EMAs, and recent pullbacks have been shallow and quickly absorbed. The momentum-oriented environment supports buying now on minor retracements into the 9-day EMA to capture further trend acceleration.

  • ↑Q2 2026 revenue reached $71.6M, up 30% YoY, led by a 49% MRD surge
  • ↑Adjusted EBITDA jumped to $9.1M from $1.9M YoY, boosting operating margins
  • ↓Net loss of $39.9M in Q2 intensifies cash-burn and funding risks
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Adaptive Biotechnologies Corporation (NASDAQ: ADPT) specializes in oncology diagnostics, particularly through its proprietary ClonoSeq test that detects minimal residual disease (MRD). The company is increasingly relevant in personalized medicine, aiming to improve patient outcomes particularly in the oncology space. With the burgeoning demand for blood-based diagnostics, Adaptive is positioned to benefit from significant market dynamics within cancer care, especially as it focuses on non-invasive methodologies and strategic integrations with electronic medical record (EMR) systems.

Bull says

  • ↑Q2 2026 revenue reached $71.6M, up 30% YoY, led by a 49% MRD surge
  • ↑Adjusted EBITDA jumped to $9.1M from $1.9M YoY, boosting operating margins
  • ↑MRD revenues grew 53% YoY to $66.2M, supporting full-year guidance of $268–278M
  • ↑Planned separation of immune medicine segment to sharpen focus on MRD growth
  • ↑EMR integrations accelerate ClonoSeq adoption in community oncology, driving volume gains
  • ↑Strong momentum factors and $357M cash reserves underpin scalability plans

Bear says

  • ↓Net loss of $39.9M in Q2 intensifies cash-burn and funding risks
  • ↓Negative earnings yield hints at potential overvaluation relative to earnings power
  • ↓High share-price volatility may deter risk-averse investors during market swings
  • ↓Intensifying MRD competition could pressure pricing and erode market share
  • ↓Convertible debt issuance plans risk shareholder dilution and add leverage
  • ↓Leverage risk elevated amid expansion, raising financial viability concerns

Investment themes with ADPT

Recent IPOs↓ -0.74%

Companies that recently went public

SNOW · PLTR · PTON

Earnings Call · Q2 2025 · Mgmt. Guidance

Updated 08-10-2026bullish

Transcript signals

Bull points

  • Our second quarter results demonstrate strong execution without performance on both the top and bottom line.
  • Our MRD business achieved profitability this quarter, delivering approximately $2 million in positive adjusted EBITDA, which we anticipate to increase going forward.
  • MRD revenue grew 42% year over year.

Bear points

  • Net loss for the quarter was $25.6 million.
Read full transcript analysis ›