ARK Investment Management LLC Boosts Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

ARK Investment Management LLC raised its stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 11.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,806,513 shares of the company’s stock after buying an additional 1,297,205 shares during the quarter. ARK Investment Management LLC owned about 8.85% of Adaptive Biotechnologies worth $62,752,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Legato Capital Management LLC grew its holdings in Adaptive Biotechnologies by 31.3% during the 4th quarter. Legato Capital Management LLC now owns 128,054 shares of the company’s stock valued at $627,000 after buying an additional 30,560 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Adaptive Biotechnologies by 20.2% during the fourth quarter. SG Americas Securities LLC now owns 70,571 shares of the company’s stock worth $346,000 after purchasing an additional 11,851 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Adaptive Biotechnologies by 1.6% during the third quarter. Vanguard Group Inc. now owns 12,249,042 shares of the company’s stock worth $66,757,000 after purchasing an additional 196,555 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Adaptive Biotechnologies by 11.7% during the third quarter. American Century Companies Inc. now owns 824,318 shares of the company’s stock worth $4,493,000 after purchasing an additional 86,478 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Adaptive Biotechnologies by 45.4% during the third quarter. Sei Investments Co. now owns 64,560 shares of the company’s stock worth $352,000 after purchasing an additional 20,152 shares in the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on Adaptive Biotechnologies from $11.00 to $8.00 and set an “overweight” rating for the company in a research report on Thursday, February 15th. The Goldman Sachs Group dropped their target price on Adaptive Biotechnologies from $11.00 to $5.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.25.

Insider Buying and Selling at Adaptive Biotechnologies

In related news, insider Kyle Piskel sold 7,727 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total transaction of $26,503.61. Following the completion of the transaction, the insider now owns 123,318 shares in the company, valued at $422,980.74. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Chad M. Robins sold 48,673 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total transaction of $166,948.39. Following the completion of the transaction, the chief executive officer now owns 2,576,701 shares in the company, valued at $8,838,084.43. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kyle Piskel sold 7,727 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total value of $26,503.61. Following the transaction, the insider now owns 123,318 shares of the company’s stock, valued at approximately $422,980.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 124,307 shares of company stock worth $428,090. 5.20% of the stock is currently owned by insiders.

Adaptive Biotechnologies Stock Performance

Shares of ADPT stock opened at $2.89 on Thursday. Adaptive Biotechnologies Co. has a fifty-two week low of $2.61 and a fifty-two week high of $9.08. The stock has a 50 day moving average price of $3.74 and a two-hundred day moving average price of $4.39. The company has a market capitalization of $419.31 million, a P/E ratio of -1.85 and a beta of 1.27.

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

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.