ADC Therapeutics SA (NYSE:ADCT) Major Shareholder Buys $304,000.00 in Stock

ADC Therapeutics SA (NYSE:ADCT) major shareholder Redmile Group, Llc purchased 100,000 shares of ADC Therapeutics stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average price of $3.04 per share, with a total value of $304,000.00. Following the transaction, the insider now owns 13,145,712 shares in the company, valued at $39,962,964.48. This represents a 0.77 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Redmile Group, Llc also recently made the following trade(s):

• On Wednesday, December 4th, Redmile Group, Llc sold 25,352 shares of ADC Therapeutics stock. The shares were sold at an average price of $2.07, for a total transaction of $52,478.64.

ADC Therapeutics Trading Down 4.5 %

Shares of NYSE:ADCT opened at $1.89 on Monday. The business has a fifty day simple moving average of $2.70 and a 200 day simple moving average of $2.98. ADC Therapeutics SA has a 1 year low of $1.18 and a 1 year high of $6.04. The firm has a market cap of $182.74 million, a price-to-earnings ratio of -0.79 and a beta of 1.52.

ADC Therapeutics (NYSE:ADCT) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.06). The firm had revenue of $18.46 million during the quarter, compared to the consensus estimate of $18.76 million. During the same period in the previous year, the business earned ($0.58) earnings per share. On average, sell-side analysts forecast that ADC Therapeutics SA will post -1.67 EPS for the current year.

Wall Street Analysts Forecast Growth

ADCT has been the topic of a number of research analyst reports. Guggenheim reiterated a “buy” rating and set a $10.00 price target on shares of ADC Therapeutics in a report on Thursday. Stephens assumed coverage on ADC Therapeutics in a research note on Friday, November 8th. They set an “overweight” rating and a $6.00 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating on shares of ADC Therapeutics in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $8.00.

Institutional Trading of ADC Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Redmile Group LLC raised its holdings in shares of ADC Therapeutics by 2.6% during the 3rd quarter. Redmile Group LLC now owns 15,669,217 shares of the company’s stock valued at $49,358,000 after purchasing an additional 400,000 shares in the last quarter. Affinity Asset Advisors LLC acquired a new position in ADC Therapeutics during the second quarter worth $1,500,000. The Manufacturers Life Insurance Company bought a new position in ADC Therapeutics during the second quarter valued at about $85,000. Bank of New York Mellon Corp acquired a new stake in shares of ADC Therapeutics in the second quarter worth about $648,000. Finally, Acadian Asset Management LLC bought a new stake in shares of ADC Therapeutics during the 2nd quarter worth about $51,000. 41.10% of the stock is currently owned by institutional investors and hedge funds.

About ADC Therapeutics

ADC Therapeutics SA focuses on advancing its proprietary antibody drug conjugate (ADC) technology platform to transform the treatment paradigm for patients with hematologic malignancies and solid tumors. Its flagship product is ZYNLONTA, a CD19-directed ADC, received accelerated approval from the U.S.