Ameet Mallik Sells 29,731 Shares of ADC Therapeutics SA (NYSE:ADCT) Stock

ADC Therapeutics SA (NYSE:ADCT) CEO Ameet Mallik sold 29,731 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $4.48, for a total value of $133,194.88. Following the transaction, the chief executive officer now owns 1,167,348 shares in the company, valued at $5,229,719.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

ADC Therapeutics Trading Down 3.1 %

Shares of ADCT traded down $0.14 during midday trading on Friday, hitting $4.43. 157,127 shares of the company’s stock traded hands, compared to its average volume of 732,885. The firm’s fifty day moving average is $4.57 and its 200-day moving average is $2.91. ADC Therapeutics SA has a 1 year low of $0.36 and a 1 year high of $6.04. The stock has a market capitalization of $366.85 million, a price-to-earnings ratio of -1.56 and a beta of 1.69.

ADC Therapeutics (NYSE:ADCT) last announced its quarterly earnings data on Monday, May 6th. The company reported ($0.56) EPS for the quarter, meeting the consensus estimate of ($0.56). ADC Therapeutics had a negative net margin of 344.15% and a negative return on equity of 1,313.37%. The firm had revenue of $18.05 million during the quarter, compared to analyst estimates of $18.19 million. During the same period last year, the firm posted ($0.74) EPS. On average, equities research analysts anticipate that ADC Therapeutics SA will post -2.2 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on ADCT. Guggenheim restated a “buy” rating on shares of ADC Therapeutics in a report on Friday, April 5th. HC Wainwright dropped their price objective on shares of ADC Therapeutics from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $8.00 target price on shares of ADC Therapeutics in a report on Thursday, March 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $7.25.

Institutional Trading of ADC Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. raised its position in ADC Therapeutics by 7.1% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 70,636 shares of the company’s stock valued at $317,000 after acquiring an additional 4,700 shares in the last quarter. Saxony Capital Management LLC purchased a new stake in ADC Therapeutics during the fourth quarter worth $34,000. Redmile Group LLC grew its position in ADC Therapeutics by 0.9% during the third quarter. Redmile Group LLC now owns 14,178,045 shares of the company’s stock valued at $12,718,000 after buying an additional 128,110 shares during the period. Affinity Asset Advisors LLC increased its holdings in ADC Therapeutics by 83.3% in the third quarter. Affinity Asset Advisors LLC now owns 1,100,000 shares of the company’s stock valued at $987,000 after buying an additional 500,000 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of ADC Therapeutics by 613.8% during the 3rd quarter. Acadian Asset Management LLC now owns 156,048 shares of the company’s stock worth $138,000 after purchasing an additional 134,186 shares during the last quarter. Institutional investors and hedge funds own 41.10% of the company’s stock.

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.