Bank of New York Mellon Corp Has $342,000 Stake in ADC Therapeutics SA (NYSE:ADCT)

Bank of New York Mellon Corp grew its holdings in shares of ADC Therapeutics SA (NYSE:ADCT) by 6.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 171,993 shares of the company’s stock after acquiring an additional 9,750 shares during the quarter. Bank of New York Mellon Corp’s holdings in ADC Therapeutics were worth $342,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Redmile Group LLC boosted its position 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 worth $49,358,000 after purchasing an additional 400,000 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in ADC Therapeutics by 164.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 78,813 shares of the company’s stock valued at $248,000 after purchasing an additional 48,976 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in ADC Therapeutics by 10.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 194,258 shares of the company’s stock worth $612,000 after purchasing an additional 18,796 shares in the last quarter. Geode Capital Management LLC grew its holdings in ADC Therapeutics by 15.6% during the third quarter. Geode Capital Management LLC now owns 953,171 shares of the company’s stock worth $3,002,000 after buying an additional 128,454 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of ADC Therapeutics by 277.4% in the third quarter. Barclays PLC now owns 127,739 shares of the company’s stock valued at $402,000 after purchasing an additional 93,890 shares during the last quarter. 41.10% of the stock is owned by institutional investors.

ADC Therapeutics Trading Down 2.3 %

ADC Therapeutics stock opened at $1.49 on Friday. The business’s 50 day simple moving average is $1.67 and its 200 day simple moving average is $2.26. ADC Therapeutics SA has a 12 month low of $1.39 and a 12 month high of $5.38. The company has a market cap of $143.58 million, a price-to-earnings ratio of -0.62 and a beta of 1.51.

ADC Therapeutics (NYSE:ADCT) last issued its quarterly earnings results on Thursday, March 27th. The company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.06. The firm had revenue of $19.00 million for the quarter, compared to analysts’ expectations of $19.01 million. As a group, equities research analysts forecast that ADC Therapeutics SA will post -1.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ADCT. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ADC Therapeutics in a report on Friday, March 7th. HC Wainwright reissued a “buy” rating and issued a $8.00 price objective on shares of ADC Therapeutics in a research report on Monday, January 6th. Stephens raised their target price on ADC Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Finally, Guggenheim reiterated a “buy” rating and set a $10.00 target price on shares of ADC Therapeutics in a research note on Thursday, December 12th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $8.50.

ADC Therapeutics Company Profile

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.