DLK Investment Management LLC Trims Stock Position in ADC Therapeutics SA (NYSE:ADCT)

DLK Investment Management LLC trimmed its stake in ADC Therapeutics SA (NYSE:ADCT) by 22.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,805 shares of the company’s stock after selling 7,350 shares during the period. DLK Investment Management LLC’s holdings in ADC Therapeutics were worth $51,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADCT. Affinity Asset Advisors LLC acquired a new stake in shares of ADC Therapeutics in the second quarter valued at approximately $1,500,000. Redmile Group LLC raised its stake in ADC Therapeutics by 2.6% during the 3rd quarter. Redmile Group LLC now owns 15,669,217 shares of the company’s stock valued at $49,358,000 after acquiring an additional 400,000 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in ADC Therapeutics during the 2nd quarter worth approximately $648,000. Wellington Management Group LLP purchased a new position in shares of ADC Therapeutics in the 3rd quarter valued at approximately $531,000. Finally, Geode Capital Management LLC increased its holdings in shares of ADC Therapeutics by 15.6% in 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 during the period. 41.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ADC Therapeutics

In other ADC Therapeutics news, major shareholder Redmile Group, Llc sold 25,352 shares of ADC Therapeutics stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $2.07, for a total value 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. The trade was a 0.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.10% of the stock is owned by insiders.

Analyst Ratings Changes

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

ADC Therapeutics Trading Up 3.7 %

Shares of ADCT opened at $1.82 on Monday. ADC Therapeutics SA has a twelve month low of $1.68 and a twelve month high of $6.04. The firm has a market capitalization of $175.49 million, a P/E ratio of -0.76 and a beta of 1.55. The firm’s 50-day moving average is $2.16 and its two-hundred day moving average is $2.77.

ADC Therapeutics (NYSE:ADCT) last posted its earnings results on Thursday, November 7th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.06). The business had revenue of $18.46 million during the quarter, compared to the consensus estimate of $18.76 million. During the same quarter last year, the firm posted ($0.58) EPS. Analysts predict that ADC Therapeutics SA will post -1.69 EPS for the current year.

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.