Wilmington Savings Fund Society FSB Takes Position in ADC Therapeutics SA (NYSE:ADCT)

Wilmington Savings Fund Society FSB bought a new stake in shares of ADC Therapeutics SA (NYSE:ADCTFree Report) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 100,000 shares of the company’s stock, valued at approximately $315,000. Wilmington Savings Fund Society FSB owned approximately 0.10% of ADC Therapeutics as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC bought a new position in ADC Therapeutics during the 2nd quarter valued at about $33,000. Intech Investment Management LLC bought a new position in ADC Therapeutics during the 3rd quarter valued at about $41,000. Acadian Asset Management LLC bought a new position in ADC Therapeutics during the 2nd quarter valued at about $51,000. Readystate Asset Management LP bought a new position in ADC Therapeutics during the 3rd quarter valued at about $54,000. Finally, Charles Schwab Investment Management Inc. lifted 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 valued at $612,000 after purchasing an additional 18,796 shares during the last quarter. 41.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ADC Therapeutics

In related news, major shareholder Redmile Group, Llc purchased 100,000 shares of ADC Therapeutics stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of $3.04 per share, for a total transaction of $304,000.00. Following the completion of the acquisition, the insider now directly owns 13,145,712 shares of the company’s stock, valued at $39,962,964.48. This represents a 0.77 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Guggenheim reissued a “buy” rating and set a $10.00 price target on shares of ADC Therapeutics in a report on Thursday, December 12th. HC Wainwright reissued a “buy” rating on shares of ADC Therapeutics in a report on Wednesday, December 11th. Finally, Stephens assumed coverage on shares of ADC Therapeutics in a research note on Friday, November 8th. They issued an “overweight” rating and a $6.00 target price for the company. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $8.00.

View Our Latest Report on ADCT

ADC Therapeutics Price Performance

ADCT opened at $2.13 on Wednesday. The company has a market cap of $205.95 million, a price-to-earnings ratio of -0.89 and a beta of 1.52. The firm has a 50 day simple moving average of $2.65 and a 200 day simple moving average of $2.96. ADC Therapeutics SA has a fifty-two week low of $1.18 and a fifty-two week high of $6.04.

ADC Therapeutics (NYSE:ADCTGet Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.06). The company had revenue of $18.46 million for the quarter, compared to analysts’ expectations of $18.76 million. During the same period in the prior year, the company posted ($0.58) EPS. As a group, analysts expect that ADC Therapeutics SA will post -1.67 EPS for the current year.

About ADC Therapeutics

(Free Report)

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.

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Institutional Ownership by Quarter for ADC Therapeutics (NYSE:ADCT)

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