Adaptive Biotechnologies Co. (NASDAQ:ADPT) Shares Purchased by ARK Investment Management LLC

ARK Investment Management LLC lifted its stake in Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 11.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,806,513 shares of the company’s stock after purchasing an additional 1,297,205 shares during the quarter. ARK Investment Management LLC owned about 0.09% of Adaptive Biotechnologies worth $62,752,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Assenagon Asset Management S.A. increased its stake in Adaptive Biotechnologies by 1,760.6% during the third quarter. Assenagon Asset Management S.A. now owns 864,737 shares of the company’s stock worth $4,713,000 after acquiring an additional 818,262 shares during the last quarter. Federated Hermes Inc. increased its stake in Adaptive Biotechnologies by 24.5% during the third quarter. Federated Hermes Inc. now owns 1,385,207 shares of the company’s stock worth $7,549,000 after acquiring an additional 272,720 shares during the last quarter. DDD Partners LLC acquired a new stake in Adaptive Biotechnologies during the third quarter worth $4,271,000. Swiss National Bank increased its stake in Adaptive Biotechnologies by 1.7% during the third quarter. Swiss National Bank now owns 222,100 shares of the company’s stock worth $1,210,000 after acquiring an additional 3,800 shares during the last quarter. Finally, Legato Capital Management LLC increased its stake in Adaptive Biotechnologies by 31.3% during the fourth quarter. Legato Capital Management LLC now owns 128,054 shares of the company’s stock worth $627,000 after acquiring an additional 30,560 shares during the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

Wall Street Analysts Forecast Growth

ADPT has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their target price on Adaptive Biotechnologies from $11.00 to $8.00 and set an “overweight” rating for the company in a research note on Thursday, February 15th. The Goldman Sachs Group dropped their price objective on Adaptive Biotechnologies from $11.00 to $5.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.25.

Adaptive Biotechnologies Trading Up 0.3 %

Shares of NASDAQ ADPT opened at $2.89 on Thursday. Adaptive Biotechnologies Co. has a twelve month low of $2.61 and a twelve month high of $9.08. The stock has a fifty day simple moving average of $3.74 and a 200-day simple moving average of $4.39. The stock has a market capitalization of $419.31 million, a PE ratio of -1.85 and a beta of 1.27.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Wednesday, February 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.02. The firm had revenue of $45.78 million during the quarter, compared to analyst estimates of $50.15 million. Adaptive Biotechnologies had a negative return on equity of 53.65% and a negative net margin of 132.29%. On average, equities analysts predict that Adaptive Biotechnologies Co. will post -1.31 earnings per share for the current year.

Insider Activity at Adaptive Biotechnologies

In related news, President Julie Rubinstein sold 39,070 shares of Adaptive Biotechnologies stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $3.47, for a total value of $135,572.90. Following the completion of the transaction, the president now directly owns 472,754 shares in the company, valued at $1,640,456.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Adaptive Biotechnologies news, SVP Stacy L. Taylor sold 13,381 shares of Adaptive Biotechnologies stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total transaction of $45,896.83. Following the completion of the sale, the senior vice president now directly owns 166,287 shares of the company’s stock, valued at approximately $570,364.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Julie Rubinstein sold 39,070 shares of Adaptive Biotechnologies stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $3.47, for a total value of $135,572.90. Following the sale, the president now directly owns 472,754 shares of the company’s stock, valued at $1,640,456.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,307 shares of company stock worth $428,090. Company insiders own 5.20% of the company’s stock.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunosequencing platform which combines a suite of proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data to decode the adaptive immune system.