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

ADC Therapeutics SA (NYSE:ADCT) major shareholder Redmile Group, Llc acquired 100,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were purchased at an average cost 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 $39,962,964.48. This represents a 0.77 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 stock was 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 stock opened at $1.89 on Friday. The company has a market capitalization of $182.74 million, a P/E 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. The firm has a 50-day moving average price of $2.70 and a 200 day moving average price of $2.98.

ADC Therapeutics (NYSE:ADCT) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $18.76 million. During the same period in the prior year, the business earned ($0.58) EPS. As a group, research analysts expect that ADC Therapeutics SA will post -1.67 earnings per share for the current year.

Hedge Funds Weigh In On ADC Therapeutics

Institutional investors have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC acquired a new stake in shares of ADC Therapeutics in the second quarter valued at $33,000. Intech Investment Management LLC acquired a new stake in ADC Therapeutics in the 3rd quarter valued at about $41,000. Acadian Asset Management LLC bought a new position in shares of ADC Therapeutics in the second quarter worth about $51,000. Readystate Asset Management LP acquired a new position in shares of ADC Therapeutics during the third quarter worth approximately $54,000. Finally, SG Americas Securities LLC bought a new stake in shares of ADC Therapeutics during the third quarter valued at approximately $84,000. Institutional investors own 41.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ADCT has been the subject of a number of recent research reports. 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. Guggenheim reissued a “buy” rating and issued a $10.00 price target on shares of ADC Therapeutics in a research report on Thursday. Finally, HC Wainwright reaffirmed a “buy” rating on shares of ADC Therapeutics in a report on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $8.00.

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.