100,000 Shares in ADC Therapeutics SA (NYSE:ADCT) Bought by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB bought a new position in shares of ADC Therapeutics SA (NYSE:ADCT) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 100,000 shares of the company’s stock, valued at approximately $315,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Redmile Group LLC raised its position in ADC Therapeutics by 2.6% during the third quarter. Redmile Group LLC now owns 15,669,217 shares of the company’s stock worth $49,358,000 after acquiring an additional 400,000 shares in the last quarter. Affinity Asset Advisors LLC bought a new stake in ADC Therapeutics during the second quarter worth $1,500,000. The Manufacturers Life Insurance Company bought a new stake in ADC Therapeutics during the second quarter worth $85,000. Bank of New York Mellon Corp bought a new stake in ADC Therapeutics during the second quarter worth $648,000. Finally, Acadian Asset Management LLC bought a new stake in ADC Therapeutics during the second quarter worth $51,000. 41.10% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other ADC Therapeutics news, major shareholder Redmile Group, Llc sold 25,352 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $2.07, for a total transaction of $52,478.64. Following the sale, the insider now directly owns 15,566,731 shares in the company, valued at $32,223,133.17. This represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 4.10% of the company’s stock.

ADC Therapeutics Stock Performance

ADCT stock opened at $2.13 on Wednesday. The company’s 50-day simple moving average is $2.65 and its 200 day simple moving average is $2.96. ADC Therapeutics SA has a 52 week low of $1.18 and a 52 week high of $6.04. The company has a market capitalization of $205.95 million, a PE ratio of -0.89 and a beta of 1.52.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.06). The company had revenue of $18.46 million for the quarter, compared to analyst estimates of $18.76 million. During the same quarter in the previous year, the business earned ($0.58) EPS. On average, analysts forecast that ADC Therapeutics SA will post -1.67 EPS for the current year.

Wall Street Analyst Weigh In

ADCT has been the topic 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, December 12th. Finally, Stephens initiated coverage on shares of ADC Therapeutics in a research report 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, the stock presently has a consensus rating of “Buy” and a consensus price target of $8.00.

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.