MetLife Investment Management LLC Purchases 24,279 Shares of ADC Therapeutics SA (NYSE:ADCT)

MetLife Investment Management LLC increased its position in shares of ADC Therapeutics SA (NYSE:ADCT) by 129.1% during the third quarter, HoldingsChannel.com reports. The fund owned 43,089 shares of the company’s stock after acquiring an additional 24,279 shares during the period. MetLife Investment Management LLC’s holdings in ADC Therapeutics were worth $136,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ADCT. Affinity Asset Advisors LLC bought a new stake in shares of ADC Therapeutics during the 2nd quarter valued at about $1,500,000. Bank of New York Mellon Corp bought a new stake in ADC Therapeutics during the second quarter valued at approximately $648,000. Rhumbline Advisers purchased a new position in ADC Therapeutics in the 2nd quarter worth approximately $272,000. FMR LLC bought a new position in shares of ADC Therapeutics in the 3rd quarter worth $167,000. Finally, XTX Topco Ltd raised its position in shares of ADC Therapeutics by 129.0% during the 2nd quarter. XTX Topco Ltd now owns 56,863 shares of the company’s stock valued at $180,000 after buying an additional 32,034 shares in the last quarter. 41.10% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Redmile Group, Llc sold 25,352 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were 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 directly owns 15,566,731 shares of the company’s stock, valued at approximately $32,223,133.17. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.10% of the company’s stock.

ADC Therapeutics Stock Performance

ADCT stock opened at $3.21 on Tuesday. The company has a market capitalization of $309.89 million, a PE ratio of -1.34 and a beta of 1.52. ADC Therapeutics SA has a one year low of $0.98 and a one year high of $6.04. The company’s 50 day moving average price is $2.76 and its two-hundred day moving average price is $3.02.

ADC Therapeutics (NYSE:ADCT) last issued 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 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 firm posted ($0.58) EPS. On average, research analysts predict that ADC Therapeutics SA will post -1.67 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Stephens began coverage on shares of ADC Therapeutics in a research report on Friday, November 8th. They issued an “overweight” rating and a $6.00 target price for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $8.25.

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.