ADC Therapeutics SA (NYSE:ADCT – Get Free Report) major shareholder Redmile Group, Llc bought 400,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was purchased at an average price of $2.81 per share, for a total transaction of $1,124,000.00. Following the purchase, the insider now owns 12,995,040 shares of the company’s stock, valued at approximately $36,516,062.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
ADC Therapeutics Price Performance
ADCT opened at $3.06 on Thursday. The firm has a 50 day moving average price of $3.65 and a 200-day moving average price of $3.64. ADC Therapeutics SA has a twelve month low of $0.36 and a twelve month high of $6.04.
ADC Therapeutics (NYSE:ADCT – Get Free Report) last released its quarterly earnings results on Monday, May 6th. The company reported ($0.56) earnings per share for the quarter, meeting the consensus estimate of ($0.56). The firm had revenue of $18.05 million for the quarter, compared to the consensus estimate of $18.19 million. During the same period in the previous year, the company earned ($0.74) earnings per share. Equities research analysts anticipate that ADC Therapeutics SA will post -1.92 EPS for the current fiscal year.
Institutional Inflows and Outflows
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $8.00 price objective on shares of ADC Therapeutics in a report on Thursday, March 14th. Guggenheim reissued a “buy” rating on shares of ADC Therapeutics in a report on Friday, April 5th. HC Wainwright decreased their price target on ADC Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. Finally, Cantor Fitzgerald began coverage on ADC Therapeutics in a research report on Thursday, May 30th. They set an “overweight” rating on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.25.
Get Our Latest Stock Analysis on ADCT
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.
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