American Century Companies Inc. Raises Stock Holdings in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

American Century Companies Inc. increased its stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 11.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 824,318 shares of the company’s stock after purchasing an additional 86,478 shares during the quarter. American Century Companies Inc. owned approximately 0.57% of Adaptive Biotechnologies worth $4,493,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its stake in shares of Adaptive Biotechnologies by 1,760.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 864,737 shares of the company’s stock worth $4,713,000 after purchasing an additional 818,262 shares during the last quarter. Federated Hermes Inc. increased its position in Adaptive Biotechnologies by 24.5% during the 3rd quarter. Federated Hermes Inc. now owns 1,385,207 shares of the company’s stock valued at $7,549,000 after buying an additional 272,720 shares in the last quarter. DDD Partners LLC acquired a new position in Adaptive Biotechnologies during the 3rd quarter valued at about $4,271,000. ARK Investment Management LLC increased its position in Adaptive Biotechnologies by 10.1% during the 3rd quarter. ARK Investment Management LLC now owns 11,509,308 shares of the company’s stock valued at $62,726,000 after buying an additional 1,055,556 shares in the last quarter. Finally, Swiss National Bank increased its position in Adaptive Biotechnologies by 1.7% during the 3rd quarter. Swiss National Bank now owns 222,100 shares of the company’s stock valued at $1,210,000 after buying an additional 3,800 shares in the last quarter. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Stock Up 0.3 %

Shares of NASDAQ:ADPT opened at $2.89 on Thursday. Adaptive Biotechnologies Co. has a 52-week low of $2.61 and a 52-week high of $9.08. The stock has a market cap of $419.31 million, a price-to-earnings ratio of -1.85 and a beta of 1.27. The business has a 50-day moving average price of $3.74 and a 200-day moving average price of $4.39.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Wednesday, February 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $50.15 million. As a group, equities analysts anticipate that Adaptive Biotechnologies Co. will post -1.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ADPT shares. The Goldman Sachs Group reduced their target price on Adaptive Biotechnologies from $11.00 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. JPMorgan Chase & Co. reduced their target price on Adaptive Biotechnologies from $11.00 to $8.00 and set an “overweight” rating on the stock in a research report on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Adaptive Biotechnologies currently has an average rating of “Moderate Buy” and a consensus price target of $7.25.

Insider Transactions at Adaptive Biotechnologies

In other news, CEO Chad M. Robins sold 48,673 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was 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 directly owns 2,576,701 shares in the company, valued at $8,838,084.43. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Chad M. Robins sold 48,673 shares of Adaptive Biotechnologies 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 directly owns 2,576,701 shares in the company, valued at $8,838,084.43. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Julie Rubinstein sold 39,070 shares of Adaptive Biotechnologies stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $3.47, for a total value of $135,572.90. Following the transaction, the president now owns 472,754 shares of the company’s stock, valued at $1,640,456.38. The disclosure for this sale can be found here. Insiders sold a total of 124,307 shares of company stock worth $428,090 over the last three months. 5.20% of the stock is currently owned by insiders.

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.