Barclays PLC Acquires 93,890 Shares of ADC Therapeutics SA (NYSE:ADCT)

Barclays PLC increased its holdings in shares of ADC Therapeutics SA (NYSE:ADCT) by 277.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,739 shares of the company’s stock after purchasing an additional 93,890 shares during the period. Barclays PLC’s holdings in ADC Therapeutics were worth $402,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ADCT. Affinity Asset Advisors LLC bought a new position in ADC Therapeutics in the second quarter valued at approximately $1,500,000. Redmile Group LLC raised its holdings in shares of ADC Therapeutics by 2.6% during the third 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. Bank of New York Mellon Corp acquired a new stake in shares of ADC Therapeutics during the second quarter worth $648,000. Wellington Management Group LLP bought a new stake in ADC Therapeutics in the 3rd quarter valued at $531,000. Finally, State Street Corp boosted its stake in ADC Therapeutics by 11.6% in the 3rd 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. Institutional investors own 41.10% of the company’s stock.

Insider Activity at ADC Therapeutics

In other news, major shareholder Redmile Group, Llc bought 100,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were bought at an average cost of $3.04 per share, with a total value of $304,000.00. Following the acquisition, the insider now owns 13,145,712 shares in the company, valued at $39,962,964.48. This trade represents a 0.77 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.10% of the stock is owned by company insiders.

ADC Therapeutics Price Performance

ADC Therapeutics stock opened at $2.02 on Friday. The company has a market cap of $195.31 million, a price-to-earnings ratio of -0.85 and a beta of 1.52. The firm has a 50-day moving average of $2.41 and a 200-day moving average of $2.85. ADC Therapeutics SA has a one year low of $1.45 and a one year high of $6.04.

ADC Therapeutics (NYSE:ADCT) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.06). The company had revenue of $18.46 million during the quarter, compared to analysts’ expectations of $18.76 million. During the same period in the previous year, the business earned ($0.58) earnings per share. As a group, sell-side analysts expect that ADC Therapeutics SA will post -1.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ADCT. Guggenheim reissued a “buy” rating and issued a $10.00 price target on shares of ADC Therapeutics in a research note on Thursday, December 12th. Stephens started coverage on ADC Therapeutics in a research report on Friday, November 8th. They issued an “overweight” rating and a $6.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating on shares of ADC Therapeutics in a research note on Wednesday, December 11th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, ADC Therapeutics presently has an average rating of “Buy” and a consensus 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.