Built from weaker models, sales multiples or analyst targets, so treat it as a rough guide.
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Valued as a loss-making company: Sales comps and Analyst consensus.
ACCE opinionAdaptive Biotechnologies Corporation Common Stock (ADPT)
Fair value
Not available
ACCE price target
$24.00
Rating
Not rated
Horizon
12 months
ACCE price target published on 11 Oct 2026, 00:00 CEST.
Price used: $25.51 at the close on 23 Oct 2026, 22:00 CEST.
Models: Analyst consensus and Sales comps.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
48
out of 100
Analysts
89% buy
9 covering
P/E
0.0x
forward 0.0x
1-year return
+48.7%
Dividend yield
0.00%
Adaptive Biotechnologies Corporation Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
Adaptive Biotechnologies sells immune-profiling products built on its sequencing platform, chiefly the clonoSEQ assay for tracking minimal residual disease in blood cancers and the immunoSEQ platform used by researchers and drug developers to read T-cell and B-cell receptor repertoires. The moat is the installed base of validated clinical data and reimbursement for clonoSEQ, which gives it a diagnostic franchise that rivals must clear with their own evidence before they can compete. Revenue grew 21.5% over the latest period and gross margin sits at 46.9%, so the question is whether that growth can carry operating losses, currently a 22.0% operating margin deficit, toward breakeven. The stock scores 48 out of 100 and is not in any major index, which keeps the name under-owned and worth a look only if you are prepared to underwrite the path to profitability and the continued expansion of clonoSEQ volumes. Return on equity of negative 38.8% confirms the company is still consuming capital rather than generating it.
⚠ Investor warnings · 3 flagsAI-assisted·How I use AI
high
Cash burn and leverage
Free cash flow is -$48.9M with debt/equity at 1.28 and an operating margin of -22.0%. The business is consuming cash while carrying meaningful leverage.
moderate
Elevated short interest
Short interest sits at 9.4% of float alongside a -6 point drop in the ACCE score over 90 days, from 54 to 48.
moderate
Insider selling without buying
Insiders disclosed $3.35M in sales across the last 10 filings and no purchases, with insider ownership at only 1.3%.
AI research notes
AI-assisted·How I use AIWritten Oct 18, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Revenue grew 21.5% year over year, and the five-year average annual growth rate is 23.0%.
Eight of nine analysts rate the stock Buy or Strong Buy, and their mean price target sits 24.1% above the share price.
Latest quarterly earnings per share beat expectations by 23.1%, reporting -$0.10 against -$0.13 expected.
Why it could disappoint
Free cash flow over the last twelve months was negative at -$49M, so the business is still burning cash.
Net margin is -20.7% and return on equity is -38.8%, so the company is not yet earning a profit on its capital.
Debt is 1.28 times equity, and the diluted share count rose 3.1% last fiscal year, diluting existing holders.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Nov 4, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
INVESTOR
Where ADPT's valuation models land
Price
$25.51
Model fair valueConfidence: low
about $19.96
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Analyst consensus
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Quality
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