Kazazian Asset Management LLC Acquires Shares of 13,300 ADC Therapeutics SA (NYSE:ADCT)

Kazazian Asset Management LLC acquired a new stake in shares of ADC Therapeutics SA (NYSE:ADCT) in the fourth quarter, Holdings Channel reports. The firm acquired 13,300 shares of the company’s stock, valued at approximately $26,000.

A number of other large investors have also added to or reduced their stakes in the stock. Platinum Investment Management Ltd. raised its stake in ADC Therapeutics by 11.6% during the fourth quarter. Platinum Investment Management Ltd. now owns 1,612,556 shares of the company’s stock valued at $3,209,000 after buying an additional 168,040 shares during the last quarter. Intech Investment Management LLC raised its stake in ADC Therapeutics by 195.7% during the fourth quarter. Intech Investment Management LLC now owns 38,435 shares of the company’s stock valued at $76,000 after buying an additional 25,437 shares during the last quarter. Bank of New York Mellon Corp raised its stake in ADC Therapeutics by 6.0% during the fourth quarter. Bank of New York Mellon Corp now owns 171,993 shares of the company’s stock valued at $342,000 after buying an additional 9,750 shares during the last quarter. Rhumbline Advisers raised its stake in ADC Therapeutics by 15.6% during the fourth quarter. Rhumbline Advisers now owns 110,037 shares of the company’s stock valued at $219,000 after buying an additional 14,848 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in ADC Therapeutics by 35.6% during the fourth quarter. SG Americas Securities LLC now owns 36,140 shares of the company’s stock valued at $72,000 after buying an additional 9,483 shares during the last quarter. Hedge funds and other institutional investors own 41.10% of the company’s stock.

ADC Therapeutics Price Performance

Shares of ADCT opened at $1.77 on Wednesday. ADC Therapeutics SA has a one year low of $1.39 and a one year high of $5.38. The firm has a market capitalization of $170.66 million, a P/E ratio of -0.74 and a beta of 1.51. The business has a fifty day moving average of $1.70 and a 200 day moving average of $2.32.

Wall Street Analysts Forecast Growth

ADCT has been the subject of several recent analyst reports. Guggenheim restated a “buy” rating and issued a $10.00 price target on shares of ADC Therapeutics in a research note on Thursday, December 12th. Cantor Fitzgerald restated an “overweight” rating on shares of ADC Therapeutics in a research note on Friday, March 7th. Stephens boosted their price target on ADC Therapeutics from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. 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 research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $8.50.

ADC Therapeutics 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.