XTX Topco Ltd Purchases 58,210 Shares of ADC Therapeutics SA (NYSE:ADCT)

XTX Topco Ltd grew its position in ADC Therapeutics SA (NYSE:ADCT) by 102.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 115,073 shares of the company’s stock after purchasing an additional 58,210 shares during the period. XTX Topco Ltd owned approximately 0.12% of ADC Therapeutics worth $362,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Redmile Group LLC grew its position in ADC Therapeutics by 2.6% in the third quarter. Redmile Group LLC now owns 15,669,217 shares of the company’s stock valued at $49,358,000 after purchasing an additional 400,000 shares in the last quarter. Affinity Asset Advisors LLC acquired a new position in shares of ADC Therapeutics during the 2nd quarter worth about $1,500,000. The Manufacturers Life Insurance Company bought a new stake in ADC Therapeutics during the second quarter worth about $85,000. Bank of New York Mellon Corp acquired a new position in ADC Therapeutics during the second quarter valued at approximately $648,000. Finally, Acadian Asset Management LLC bought a new position in ADC Therapeutics in the second quarter valued at approximately $51,000. 41.10% of the stock is owned by institutional investors and hedge funds.

ADC Therapeutics Stock Up 5.8 %

Shares of NYSE:ADCT opened at $2.00 on Tuesday. The business has a 50 day moving average of $2.67 and a 200-day moving average of $2.97. ADC Therapeutics SA has a 12-month low of $1.18 and a 12-month high of $6.04. The stock has a market cap of $193.38 million, a PE ratio of -0.84 and a beta of 1.52.

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 during the quarter, compared to analyst estimates of $18.76 million. During the same period in the previous year, the business posted ($0.58) earnings per share. Equities research analysts expect that ADC Therapeutics SA will post -1.67 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ADCT shares. Guggenheim reiterated a “buy” rating and set a $10.00 price objective on shares of ADC Therapeutics in a research note on Thursday, December 12th. HC Wainwright reaffirmed a “buy” rating on shares of ADC Therapeutics in a research report on Wednesday, December 11th. Finally, 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 price objective for the company. Five 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.

Insider Buying and Selling at ADC Therapeutics

In other ADC Therapeutics news, major shareholder Redmile Group, Llc purchased 100,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were bought at an average price of $3.04 per share, with a total value of $304,000.00. Following the completion of the transaction, the insider now directly owns 13,145,712 shares in the company, valued at approximately $39,962,964.48. This trade represents a 0.77 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.10% of the company’s stock.

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.