Stocks · Healthcare · Biotechnology
Adaptive Biotechnologies Corporation ADPT
$28.35 +3.58% Close, Oct 2, 2026 · NASDAQ · Market cap $4.54B
Strong trend
Next earnings report: Nov 4, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Operating margin widened to -12.2% from -59.0% a year earlier.
- Revenue over the last four quarters was $308.1M, up 50.1% from a year earlier, slowing from 55.9% a quarter earlier.
- Over the past year the stock returned +94.7%, ahead of the S&P 500 by 79.6 percentage points.
PromtFinance scores
Each score is a percentile within the Healthcare sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 17%
- Revenue growth, 3-year CAGRTop 42%
- Revenue growth accelerationBottom 23%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 39%
- Gross marginTop 36%
- Operating marginBottom 47%
- Accruals (lower is better)Top 50%
- Interest coverBottom 45%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 34%
- Free-cash-flow yieldTop 37%
- EBITDA / enterprise valueTop 39%
- Sales / enterprise valueBottom 24%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 26%
- 6-month returnTop 9%
- 1-year return vs S&P 500Top 16%
- Distance from 52-week highTop 6%
- Trend checklist (0–4)Top 7%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 18%
- Consecutive EPS beatsBottom 20%
- Share of analysts rating BuyBottom 31%
- Upside to consensus price targetBottom 15%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 38%
- Maximum drawdown, 3 yearsTop 32%
- Beta vs S&P 500 (lower is better)Bottom 49%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 55.9% | 50.1% | ↓ |
| Gross margin | 66.0% | 75.4% | ↑ |
| Operating margin | -59.0% | -12.2% | ↑ |
| FCF margin | -40.4% | -7.8% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 50.1% | 55.9% | ↓ | Top 17% |
| Gross margin | 75.4% | 66.0% | ↑ | Top 36% |
| Operating margin | -12.2% | -59.0% | ↑ | Bottom 47% |
| Net margin | -20.7% | -59.1% | ↑ | — |
| Free-cash-flow margin | -7.8% | -40.4% | ↑ | — |
| Return on invested capital | -6.7% | — | Top 39% | |
| Revenue growth, 3-year CAGR | 14.3% | — | Top 42% |
Quality of earnings and balance sheet
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -6.7%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 11.6%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -38.3 pp
- Interest cover (operating income / interest)How many times operating profit covers interest.
- -3.3×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- 0.03%
- Shareholder yield
- 0.03%
- Share count change, 1 year
- +3.7%
- Share count change, 3-year CAGR
- +3.0%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 4, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 0
- Beats in the last 8 reports
- 7 of 8
- Average EPS surprise, last 4
- +29.4%
- Average 2-day reaction, last 8
- -2.9%
- Positive 20 days after report
- 4 of 8
Analysts
- Consensus price target
- $30.42
- Target vs current price
- +7.3%
- Analysts with a rating
- 17
- Share rating Buy or Strong Buy
- 65%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 29, 2026 | -87.1% | +0.2% | +9.0% | +16.6% | — |
| May 5, 2026 | +18.8% | -5.0% | -6.6% | +4.4% | +66.8% |
| Feb 5, 2026 | +52.6% | -4.8% | -9.7% | -7.9% | -17.5% |
| Nov 6, 2025 | +133.3% | -11.5% | -17.6% | -0.7% | +5.2% |
| Aug 5, 2025 | +29.2% | +1.3% | +11.4% | +17.7% | +54.9% |
| May 5, 2025 | +41.2% | +1.9% | -8.2% | -2.9% | +6.1% |
| Feb 12, 2025 | +14.8% | -3.2% | +7.3% | -2.3% | +18.8% |
| Nov 7, 2024 | +24.1% | -2.1% | +1.7% | +5.6% | +40.0% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 29, 2026 | -$0.25 | -$0.13 | -87.1% | $71.6M |
| May 5, 2026 | -$0.13 | -$0.16 | +18.8% | $70.9M |
| Feb 5, 2026 | -$0.09 | -$0.19 | +52.6% | $71.7M |
| Nov 6, 2025 | $0.06 | -$0.18 | +133.3% | $94.0M |
| Aug 5, 2025 | -$0.17 | -$0.24 | +29.2% | $58.9M |
| May 5, 2025 | -$0.20 | -$0.34 | +41.2% | $52.4M |
| Feb 12, 2025 | -$0.23 | -$0.27 | +14.8% | $47.5M |
| Nov 7, 2024 | -$0.22 | -$0.29 | +24.1% | $46.4M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| EV / Sales | 15.51× | — | — | Bottom 24% |
| Free-cash-flow yield | -0.53% | — | — | Top 37% |
| Earnings yield | -1.45% | — | — | Top 34% |
Technical state
Trend checklist
- ✓ Price above 20-day average
- ✓ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 89
- Days above the 200-day average
- 85
- 50-day average slope (20 days)
- +9.4%
- 200-day average slope (20 days)
- +5.8%
- Distance from 50-day average
- +10.8%
- Distance from 200-day average
- +51.9%
- RSI (14)
- 58.5
- Relative volume
- 0.63×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 49.1%
- Volatility vs own 5-year history
- 3th percentile · Low for this stock
- Beta vs S&P 500 (2 years, weekly)
- 1.12
- Correlation with S&P 500
- 0.25
- Current drawdown from 1-year high
- -4.1%
- Maximum drawdown, 3 years
- -57.8%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Jan 22, 2021 | Apr 18, 2024 | -96.5% | 814 days | Not yet recovered |
| Oct 13, 2020 | Nov 24, 2020 | -15.3% | 30 days | 8 days (Dec 7, 2020) |
| Dec 23, 2020 | Jan 5, 2021 | -14.8% | 7 days | 7 days (Jan 14, 2021) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $4.54B
- EPS, diluted (TTM)
- -$0.41
- Revenue (TTM)
- $308.1M
- 52-week range
- $12.00 – $29.96
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $154.3M | $185.3M | $170.3M | $179.0M | $277.0M |
| Gross profit | $105.0M | $127.4M | $94.7M | $106.9M | $205.6M |
| Operating income | -$209.0M | -$200.2M | -$227.0M | -$162.5M | -$57.1M |
| Net income | -$207.3M | -$200.2M | -$225.3M | -$159.5M | -$59.5M |
| EPS (diluted) | -$1.46 | -$1.00 | -$1.56 | -$1.08 | -$0.39 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $46.4M | $47.5M | $52.4M | $58.9M | $94.0M | $71.7M | $70.9M | $71.6M |
| Net income | -$32.1M | -$33.7M | -$29.9M | -$25.6M | $9.5M | -$13.6M | -$20.0M | -$39.8M |
| EPS (diluted) | -$0.22 | -$0.23 | -$0.20 | -$0.17 | $0.06 | -$0.09 | -$0.13 | -$0.25 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | -$192.7M | -$183.9M | -$156.3M | -$95.2M | -$46.0M |
| Capital expenditure | -$61.7M | -$16.3M | -$10.7M | -$3.7M | -$3.0M |
| Free cash flow | -$254.5M | -$200.3M | -$167.0M | -$98.9M | -$48.9M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | $26.7M | $7.9M | $2.2M | $241,000 | $30.4M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $344.3M
- Total assets
- $640.7M
- Total liabilities
- $490.0M
- Total debt
- $410.5M
- Net debt
- $240.6M
- Shareholders’ equity
- $142.9M
As of Jun 30, 2026 (filed Aug 4, 2026).
Short interest
- Shares sold short
- 13,489,581
- Days to cover
- 7.89
- Change vs previous report
- +15.2%
FINRA short interest, settlement date Sep 15, 2026.