Intech Investment Management LLC Takes $41,000 Position in ADC Therapeutics SA (NYSE:ADCT)

Intech Investment Management LLC purchased a new stake in shares of ADC Therapeutics SA (NYSE:ADCT) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 12,998 shares of the company’s stock, valued at approximately $41,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADCT. SG Americas Securities LLC purchased a new stake in ADC Therapeutics in the third quarter worth about $84,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of ADC Therapeutics in the 2nd quarter worth approximately $33,000. The Manufacturers Life Insurance Company bought a new position in ADC Therapeutics during the 2nd quarter valued at approximately $85,000. Affinity Asset Advisors LLC purchased a new position in ADC Therapeutics during the second quarter valued at $1,500,000. Finally, XTX Topco Ltd boosted its holdings in ADC Therapeutics by 129.0% in the second quarter. XTX Topco Ltd now owns 56,863 shares of the company’s stock worth $180,000 after acquiring an additional 32,034 shares in the last quarter. 41.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Stephens began coverage on shares of ADC Therapeutics in a report on Friday, November 8th. They issued an “overweight” rating and a $6.00 target price for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $8.25.

ADC Therapeutics Stock Performance

ADCT opened at $3.21 on Tuesday. The company’s 50-day simple moving average is $2.76 and its two-hundred day simple moving average is $3.02. ADC Therapeutics SA has a 52-week low of $0.98 and a 52-week high of $6.04. The stock has a market capitalization of $309.89 million, a P/E ratio of -1.28 and a beta of 1.52.

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

Insider Activity at ADC Therapeutics

In other ADC Therapeutics news, major shareholder Redmile Group, Llc sold 25,352 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $2.07, for a total value of $52,478.64. Following the transaction, the insider now directly owns 15,566,731 shares in the company, valued at approximately $32,223,133.17. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.10% of the stock is owned by company insiders.

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.