Zurcher Kantonalbank Zurich Cantonalbank Has $105,000 Position in Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) by 28.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 21,364 shares of the company’s stock after acquiring an additional 4,715 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Adaptive Biotechnologies were worth $105,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ARK Investment Management LLC raised its stake in Adaptive Biotechnologies by 11.3% in the fourth quarter. ARK Investment Management LLC now owns 12,806,513 shares of the company’s stock valued at $62,752,000 after purchasing an additional 1,297,205 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Adaptive Biotechnologies by 1,760.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 864,737 shares of the company’s stock valued at $4,713,000 after buying an additional 818,262 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Adaptive Biotechnologies by 11.7% during the 3rd quarter. American Century Companies Inc. now owns 824,318 shares of the company’s stock worth $4,493,000 after acquiring an additional 86,478 shares during the period. SG Americas Securities LLC boosted its position in shares of Adaptive Biotechnologies by 20.2% during the 4th quarter. SG Americas Securities LLC now owns 70,571 shares of the company’s stock worth $346,000 after acquiring an additional 11,851 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in Adaptive Biotechnologies by 24.5% in the third quarter. Federated Hermes Inc. now owns 1,385,207 shares of the company’s stock valued at $7,549,000 after acquiring an additional 272,720 shares during the last quarter. 99.17% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Stacy L. Taylor sold 13,381 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total value of $45,896.83. Following the completion of the sale, the senior vice president now owns 166,287 shares of the company’s stock, valued at $570,364.41. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Kyle Piskel sold 7,727 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total value of $26,503.61. Following the transaction, the insider now owns 123,318 shares in the company, valued at $422,980.74. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Stacy L. Taylor sold 13,381 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total value of $45,896.83. Following the sale, the senior vice president now owns 166,287 shares of the company’s stock, valued at $570,364.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,307 shares of company stock valued at $428,090. 5.20% of the stock is currently owned by company insiders.

Adaptive Biotechnologies Stock Up 11.9 %

Shares of ADPT stock opened at $3.56 on Friday. The firm has a market capitalization of $524.63 million, a P/E ratio of -2.39 and a beta of 1.27. Adaptive Biotechnologies Co. has a twelve month low of $2.28 and a twelve month high of $9.08. The stock’s fifty day simple moving average is $3.05 and its 200 day simple moving average is $3.90.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.02. The company had revenue of $41.87 million during the quarter, compared to the consensus estimate of $38.78 million. Adaptive Biotechnologies had a negative return on equity of 53.65% and a negative net margin of 132.29%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. As a group, equities research analysts expect that Adaptive Biotechnologies Co. will post -1.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ADPT has been the topic of a number of research analyst reports. 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 report on Thursday, February 15th. The Goldman Sachs Group decreased 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. Finally, BTIG Research dropped their target price on shares of Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.80.

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.