Adaptive Biotechnologies Corp’s shares surged to a 52-week high of $26.63 on Thursday, lifting its market capitalization to $4.18 billion, following a quarterly revenue beat and narrowing adjusted loss.
The company reported adjusted net loss of $0.25 per share for the second quarter, narrower than the $0.14 loss expected by analysts. Revenue totaled $71.6 million, exceeding the $65.8 million consensus estimate. Revenue grew 50% over the trailing twelve months and 22% year-over-year, driven by a 49% increase in its core minimal residual disease (MRD) business, excluding contract milestones.
The clonoSEQ MRD test portfolio recorded volume growth of 43% year-over-year, reflecting sustained commercial traction. Analysts at BTIG and Guggenheim raised their price targets to $25 from $24 and $22, respectively, while maintaining buy ratings. The stock’s total return over the past year stands at 101.7%, according to reported figures.
InvestingPro analysis suggested the shares may be overvalued at current peak levels, though operational momentum continues to support the upward move.
