Redmile Group, Llc Purchases 100,000 Shares of ADC Therapeutics SA (NYSE:ADCT) Stock

ADC Therapeutics SA (NYSE:ADCT) major shareholder Redmile Group, Llc bought 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average price of $3.04 per share, for a total transaction of $304,000.00. Following the acquisition, the insider now directly owns 13,145,712 shares in the company, valued at approximately $39,962,964.48. This trade represents a 0.77 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Redmile Group, Llc also recently made the following trade(s):

• On Wednesday, December 4th, Redmile Group, Llc sold 25,352 shares of ADC Therapeutics stock. The shares were sold at an average price of $2.07, for a total value of $52,478.64.

ADC Therapeutics Stock Down 4.5 %

Shares of ADCT opened at $1.89 on Monday. The stock’s 50-day moving average price is $2.70 and its 200 day moving average price is $2.98. The firm has a market capitalization of $182.74 million, a price-to-earnings ratio of -0.79 and a beta of 1.52. ADC Therapeutics SA has a 12-month low of $1.18 and a 12-month high of $6.04.

ADC Therapeutics (NYSE:ADCT) last released 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 firm had revenue of $18.46 million during the quarter, compared to analyst estimates of $18.76 million. During the same quarter in the previous year, the company posted ($0.58) EPS. Equities research analysts expect that ADC Therapeutics SA will post -1.67 EPS for the current year.

Analyst Upgrades and Downgrades

ADCT has been the subject of several research analyst reports. HC Wainwright reissued a “buy” rating on shares of ADC Therapeutics in a research report on Wednesday, December 11th. Guggenheim reissued a “buy” rating and issued a $10.00 price objective on shares of ADC Therapeutics in a research report on Thursday. Finally, 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 objective on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $8.00.

Hedge Funds Weigh In On ADC Therapeutics

Hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new stake in ADC Therapeutics in the third quarter valued at about $315,000. Barclays PLC boosted its holdings in ADC Therapeutics by 277.4% during 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 in the last quarter. Geode Capital Management LLC boosted 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 valued at $3,002,000 after purchasing an additional 128,454 shares in the last quarter. XTX Topco Ltd grew its stake in shares of ADC Therapeutics by 102.4% in the 3rd quarter. XTX Topco Ltd now owns 115,073 shares of the company’s stock valued at $362,000 after purchasing an additional 58,210 shares during the period. Finally, Jane Street Group LLC raised its holdings in shares of ADC Therapeutics by 272.4% in the 3rd quarter. Jane Street Group LLC now owns 53,126 shares of the company’s stock worth $167,000 after buying an additional 38,859 shares in 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.