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

ARK Investment Management LLC raised its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,601,134 shares of the company’s stock after buying an additional 189,134 shares during the period. ARK Investment Management LLC owned about 0.08% of Adaptive Biotechnologies worth $59,398,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. JTC Employer Solutions Trustee Ltd bought a new stake in shares of Adaptive Biotechnologies in the third quarter worth about $26,000. Manchester Capital Management LLC purchased a new position in shares of Adaptive Biotechnologies during the first quarter valued at approximately $32,000. Rothschild Investment LLC bought a new position in shares of Adaptive Biotechnologies during the second quarter valued at approximately $36,000. MQS Management LLC purchased a new stake in Adaptive Biotechnologies in the second quarter worth $36,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new position in Adaptive Biotechnologies during the 1st quarter valued at $46,000. Institutional investors own 99.17% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on ADPT shares. BTIG Research raised their price objective on shares of Adaptive Biotechnologies from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. raised 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $6.25.

Adaptive Biotechnologies Stock Down 2.1 %

Shares of NASDAQ ADPT opened at $5.63 on Friday. The company has a 50 day simple moving average of $4.79 and a two-hundred day simple moving average of $4.11. Adaptive Biotechnologies Co. has a fifty-two week low of $2.28 and a fifty-two week high of $6.03.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings results 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 company had revenue of $46.44 million for the quarter, compared to analysts’ expectations of $40.59 million. Adaptive Biotechnologies had a negative net margin of 126.49% and a negative return on equity of 60.99%. Analysts predict that Adaptive Biotechnologies Co. will post -1.19 earnings per share for the current fiscal year.

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.