Redmile Group, Llc Sells 25,352 Shares of ADC Therapeutics SA (NYSE:ADCT) Stock

ADC Therapeutics SA (NYSE:ADCT) major shareholder Redmile Group, Llc sold 25,352 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $2.07, for a total transaction of $52,478.64. Following the completion of the sale, the insider now owns 15,566,731 shares in the company, valued at $32,223,133.17. This represents a 0.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

ADC Therapeutics Stock Performance

NYSE:ADCT opened at $3.13 on Friday. The firm has a market cap of $302.64 million, a price-to-earnings ratio of -1.31 and a beta of 1.52. ADC Therapeutics SA has a 52 week low of $0.94 and a 52 week high of $6.04. The firm has a 50-day moving average price of $2.76 and a two-hundred day moving average price of $3.03.

ADC Therapeutics (NYSE:ADCT) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $18.76 million. During the same period in the prior year, the firm posted ($0.58) EPS. As a group, sell-side analysts forecast that ADC Therapeutics SA will post -1.73 earnings per share for the current year.

Analyst Ratings Changes

Separately, 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 for the company. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ADC Therapeutics presently has a consensus rating of “Buy” and an average price target of $8.25.

Institutional Investors Weigh In On ADC Therapeutics

Several large investors have recently modified their holdings of the stock. Sanibel Captiva Trust Company Inc. increased its stake in shares of ADC Therapeutics by 9.7% during the 2nd quarter. Sanibel Captiva Trust Company Inc. now owns 113,000 shares of the company’s stock worth $357,000 after purchasing an additional 10,000 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of ADC Therapeutics during the 2nd quarter worth approximately $33,000. Intech Investment Management LLC bought a new position in ADC Therapeutics in the 3rd quarter worth approximately $41,000. Acadian Asset Management LLC bought a new position in ADC Therapeutics in the 2nd quarter worth approximately $51,000. Finally, Readystate Asset Management LP bought a new position in ADC Therapeutics in the 3rd quarter worth approximately $54,000. Hedge funds and other institutional investors own 41.10% of the company’s stock.

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.