Adaptive Biotechnologies Corp (ticker: ADPT) closed at $26.63, its highest level in the past 52 weeks. The move lifted the company’s market capitalization to roughly $4.18 billion.
Analyst houses BT IG and Guggenheim each raised their price targets to $25, up from $24 and $22 respectively, while maintaining a Buy rating on the stock.
The share’s 1‑year total return now stands at 101.7%. Over the last twelve months, revenue grew 50%, driven by a 49% year‑over‑year increase in the core minimal residual disease (MRD) business and a 43% rise in volume for the clonoSEQ MRD test franchise.
In the second‑quarter report, Adaptive posted adjusted earnings of a $0.25 loss per share, wider than the consensus estimate of a $0.14 loss. Quarterly revenue reached $71.6 million, surpassing analysts’ expectation of $65.8 million, reflecting a 22% increase from the same quarter a year earlier.
Guggenheim highlighted the company’s strong volume growth and higher usage among existing clonoSEQ customers. InvestingPro’s ProPicks AI analysis noted the stock may be overvalued at current levels, citing comparative examples such as Siemens Energy (+231.5%) and Sandisk (+189%).
