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

ARK Investment Management LLC lifted its position in Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 11.3% in the fourth quarter, according to the company in its most recent 13F 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 period. ARK Investment Management LLC owned about 8.85% of Adaptive Biotechnologies worth $62,752,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ADPT. JPMorgan Chase & Co. lifted its holdings in shares of Adaptive Biotechnologies by 17.7% in the first quarter. JPMorgan Chase & Co. now owns 329,115 shares of the company's stock valued at $4,569,000 after purchasing an additional 49,451 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of Adaptive Biotechnologies during the 1st quarter worth approximately $160,000. Citigroup Inc. grew its stake in shares of Adaptive Biotechnologies by 16.6% during the 1st quarter. Citigroup Inc. now owns 28,375 shares of the company's stock worth $394,000 after acquiring an additional 4,047 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Adaptive Biotechnologies by 176.7% in the first quarter. PNC Financial Services Group Inc. now owns 5,293 shares of the company's stock valued at $73,000 after purchasing an additional 3,380 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Adaptive Biotechnologies in the first quarter worth $1,284,000. Institutional investors own 99.17% of the company's stock.

Adaptive Biotechnologies Stock Performance

Shares of NASDAQ:ADPT traded up $0.32 during midday trading on Thursday, reaching $3.21. The company's stock had a trading volume of 1,992,969 shares, compared to its average volume of 1,458,202. Adaptive Biotechnologies Co. has a fifty-two week low of $2.61 and a fifty-two week high of $9.08. The firm has a 50 day moving average price of $3.72 and a two-hundred day moving average price of $4.38. The firm has a market capitalization of $465.74 million, a price-to-earnings ratio of -2.06 and a beta of 1.27.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its earnings results on Wednesday, February 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $45.78 million for the quarter, compared to analysts' expectations of $50.15 million. As a group, research analysts anticipate that Adaptive Biotechnologies Co. will post -1.31 earnings per share for the current year.

Insider Activity at Adaptive Biotechnologies

In other news, CEO Chad M. Robins sold 48,673 shares of Adaptive Biotechnologies stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Chad M. Robins sold 48,673 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 $166,948.39. Following 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 legal filing with the SEC, which is available at this link. Also, CFO Tycho Peterson sold 15,456 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $3.44, for a total value of $53,168.64. Following the sale, the chief financial officer now owns 531,553 shares in the company, valued at $1,828,542.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,307 shares of company stock valued at $428,090. 5.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ADPT has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price target 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 price objective on shares of 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $7.25.

Adaptive Biotechnologies 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.