ARK Investment Management LLC Purchases 189,134 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

ARK Investment Management LLC lifted its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 1.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,601,134 shares of the company’s stock after purchasing an additional 189,134 shares during the period. ARK Investment Management LLC owned 7.87% of Adaptive Biotechnologies worth $59,398,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Adaptive Biotechnologies by 11.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,899,631 shares of the company’s stock valued at $24,977,000 after acquiring an additional 722,924 shares during the last quarter. Millennium Management LLC raised its holdings in Adaptive Biotechnologies by 1,008.3% during the 2nd quarter. Millennium Management LLC now owns 9,262,341 shares of the company’s stock valued at $33,530,000 after acquiring an additional 8,426,580 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Adaptive Biotechnologies during the first quarter worth $519,000. AQR Capital Management LLC boosted its holdings in shares of Adaptive Biotechnologies by 244.4% in the second quarter. AQR Capital Management LLC now owns 182,076 shares of the company’s stock worth $635,000 after acquiring an additional 129,201 shares during the period. Finally, Rubric Capital Management LP raised its stake in shares of Adaptive Biotechnologies by 33.3% during the 2nd quarter. Rubric Capital Management LP now owns 14,000,000 shares of the company’s stock valued at $50,680,000 after purchasing an additional 3,500,000 shares during the period. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Trading Down 2.1 %

Shares of NASDAQ:ADPT opened at $5.63 on Friday. Adaptive Biotechnologies Co. has a 52-week low of $2.28 and a 52-week high of $6.03. The firm has a fifty day moving average of $4.79 and a 200 day moving average of $4.11.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.08. The firm had revenue of $46.44 million during the quarter, compared to analysts’ expectations of $40.59 million. Adaptive Biotechnologies had a negative return on equity of 60.99% and a negative net margin of 126.49%. As a group, equities analysts anticipate that Adaptive Biotechnologies Co. will post -1.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ADPT shares. JPMorgan Chase & Co. boosted their price objective on shares of Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. BTIG Research boosted their target price on Adaptive Biotechnologies from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $6.25.

About Adaptive Biotechnologies

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.