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 firm’s stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average cost of $3.04 per share, with a total value of $304,000.00. Following the completion of the transaction, the insider now owns 13,145,712 shares of the company’s stock, valued at $39,962,964.48. This represents a 0.77 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s shares 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 %

NYSE ADCT traded down $0.09 during trading hours on Friday, reaching $1.89. 1,468,980 shares of the company were exchanged, compared to its average volume of 700,270. The stock 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 1 year low of $1.18 and a 1 year high of $6.04. The business’s 50 day simple moving average is $2.70 and its 200-day simple moving average is $2.99.

ADC Therapeutics (NYSE:ADCT) last posted its quarterly 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 company had revenue of $18.46 million for the quarter, compared to the consensus estimate of $18.76 million. During the same quarter in the previous year, the business earned ($0.58) earnings per share. As a group, sell-side analysts anticipate that ADC Therapeutics SA will post -1.67 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Redmile Group LLC increased its holdings in ADC Therapeutics by 2.6% during the 3rd 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 during the period. State Street Corp increased its holdings in shares of ADC Therapeutics by 11.6% in the third quarter. State Street Corp now owns 1,106,011 shares of the company’s stock worth $3,484,000 after purchasing an additional 114,715 shares during the period. Geode Capital Management LLC raised its position 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 worth $3,002,000 after buying an additional 128,454 shares in the last quarter. Affinity Asset Advisors LLC purchased a new stake in shares of ADC Therapeutics in the second quarter worth $1,500,000. Finally, Bank of New York Mellon Corp purchased a new position in ADC Therapeutics during the second quarter worth about $648,000. Hedge funds and other institutional investors own 41.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ADCT. Stephens initiated coverage on ADC Therapeutics in a research report on Friday, November 8th. They set an “overweight” rating and a $6.00 target price on the stock. HC Wainwright reiterated a “buy” rating on shares of ADC Therapeutics in a research note on Wednesday. Finally, Guggenheim reiterated a “buy” rating and issued a $10.00 target price on shares of ADC Therapeutics in a report on Thursday. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average 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.