ADC Therapeutics SA (NYSE:ADCT) Shares Sold by DLK Investment Management LLC

DLK Investment Management LLC reduced its stake in ADC Therapeutics SA (NYSE:ADCT) by 22.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,805 shares of the company’s stock after selling 7,350 shares during the quarter. DLK Investment Management LLC’s holdings in ADC Therapeutics were worth $51,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Susquehanna Fundamental Investments LLC acquired a new stake in shares of ADC Therapeutics during the 2nd quarter worth approximately $33,000. Intech Investment Management LLC acquired a new stake in ADC Therapeutics during the third quarter worth $41,000. Acadian Asset Management LLC acquired a new stake in ADC Therapeutics during the second quarter worth $51,000. Readystate Asset Management LP purchased a new stake in ADC Therapeutics in the third quarter valued at $54,000. Finally, SG Americas Securities LLC acquired a new position in shares of ADC Therapeutics in the 3rd quarter valued at $84,000. 41.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ADCT. HC Wainwright reissued a “buy” rating and set a $8.00 price objective on shares of ADC Therapeutics in a research report on Monday, January 6th. Stephens began coverage on shares of ADC Therapeutics in a research note on Friday, November 8th. They issued an “overweight” rating and a $6.00 price target on the stock. Finally, Guggenheim restated a “buy” rating and issued a $10.00 price objective on shares of ADC Therapeutics in a report on Thursday, December 12th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $8.00.

Insiders Place Their Bets

In other ADC Therapeutics news, major shareholder Redmile Group, Llc acquired 100,000 shares of the stock in a transaction dated Wednesday, December 11th. The stock was acquired at an average cost 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. The trade was a 0.77 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is currently owned by company insiders.

ADC Therapeutics Price Performance

NYSE ADCT opened at $1.82 on Monday. The stock has a 50-day moving average of $2.16 and a two-hundred day moving average of $2.77. ADC Therapeutics SA has a 1-year low of $1.68 and a 1-year high of $6.04. The company has a market cap of $175.49 million, a P/E ratio of -0.76 and a beta of 1.55.

ADC Therapeutics (NYSE:ADCT) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.06). The firm had revenue of $18.46 million during the quarter, compared to analyst estimates of $18.76 million. During the same quarter in the prior year, the firm posted ($0.58) EPS. On average, analysts anticipate that ADC Therapeutics SA will post -1.69 EPS for the current fiscal year.

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.