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

ARK Investment Management LLC lifted its stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,601,134 shares of the company's stock after acquiring an additional 189,134 shares during the quarter. ARK Investment Management LLC owned 7.87% of Adaptive Biotechnologies worth $59,398,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ADPT. JTC Employer Solutions Trustee Ltd purchased a new position in shares of Adaptive Biotechnologies during the third quarter valued at $26,000. Manchester Capital Management LLC purchased a new position in Adaptive Biotechnologies in the first quarter valued at about $32,000. Rothschild Investment LLC purchased a new position in Adaptive Biotechnologies in the second quarter valued at about $36,000. MQS Management LLC purchased a new position in Adaptive Biotechnologies in the second quarter valued at about $36,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new position in Adaptive Biotechnologies in the first quarter valued at about $46,000. 99.17% of the stock is owned by institutional investors.

Adaptive Biotechnologies Stock Up 3.4 %

Shares of NASDAQ:ADPT traded up $0.19 on Friday, reaching $5.82. The company had a trading volume of 1,382,653 shares, compared to its average volume of 1,409,130. Adaptive Biotechnologies Co. has a twelve month low of $2.28 and a twelve month high of $6.33. The stock has a market capitalization of $858.28 million, a P/E ratio of -3.83 and a beta of 1.45. The stock has a 50-day moving average price of $4.79 and a 200 day moving average price of $4.11.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.08. Adaptive Biotechnologies had a negative return on equity of 60.99% and a negative net margin of 126.49%. The business had revenue of $46.44 million during the quarter, compared to analysts' expectations of $40.59 million. On average, sell-side analysts predict that Adaptive Biotechnologies Co. will post -1.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. BTIG Research boosted their target price on Adaptive Biotechnologies from $7.00 to $8.00 and gave the company a "buy" rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their target price on Adaptive Biotechnologies from $5.00 to $6.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Adaptive Biotechnologies currently has an average rating of "Moderate Buy" and an average target price of $6.25.

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.