ADC Therapeutics SA (NYSE:ADCT) Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lifted its position in ADC Therapeutics SA (NYSE:ADCTFree Report) by 7.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,636 shares of the company’s stock after purchasing an additional 4,700 shares during the period. Hennion & Walsh Asset Management Inc. owned about 0.09% of ADC Therapeutics worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, Saxony Capital Management LLC acquired a new position in shares of ADC Therapeutics in the 4th quarter valued at $34,000. Institutional investors own 41.10% of the company’s stock.

ADC Therapeutics Stock Down 12.1 %

ADC Therapeutics stock opened at $3.06 on Friday. ADC Therapeutics SA has a 52-week low of $0.36 and a 52-week high of $6.04. The firm has a market capitalization of $253.31 million, a price-to-earnings ratio of -1.11 and a beta of 1.59. The company has a fifty day simple moving average of $3.63 and a 200-day simple moving average of $3.63.

ADC Therapeutics (NYSE:ADCTGet Free Report) last released its earnings results on Monday, May 6th. The company reported ($0.56) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.56). The business had revenue of $18.05 million for the quarter, compared to analysts’ expectations of $18.19 million. During the same period in the previous year, the company earned ($0.74) EPS. On average, research analysts anticipate that ADC Therapeutics SA will post -1.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ADCT. Royal Bank of Canada restated an “outperform” rating and set a $8.00 price objective on shares of ADC Therapeutics in a research report on Thursday, March 14th. Cantor Fitzgerald began coverage on shares of ADC Therapeutics in a research report on Thursday, May 30th. They set an “overweight” rating for the company. Guggenheim restated a “buy” rating on shares of ADC Therapeutics in a research report on Friday, April 5th. Finally, HC Wainwright reduced their price objective on shares of ADC Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, ADC Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $7.25.

View Our Latest Analysis on ADCT

Insider Activity at ADC Therapeutics

In related news, CEO Ameet Mallik sold 29,731 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $4.48, for a total value of $133,194.88. Following the completion of the sale, the chief executive officer now owns 1,167,348 shares of the company’s stock, valued at $5,229,719.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Ameet Mallik sold 29,731 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $4.48, for a total value of $133,194.88. Following the completion of the sale, the chief executive officer now owns 1,167,348 shares of the company’s stock, valued at $5,229,719.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Redmile Group, Llc acquired 400,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was purchased at an average cost of $2.81 per share, with a total value of $1,124,000.00. Following the acquisition, the insider now directly owns 12,995,040 shares of the company’s stock, valued at approximately $36,516,062.40. The disclosure for this purchase can be found here. 4.05% of the stock is currently owned by insiders.

ADC Therapeutics Company Profile

(Free Report)

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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Institutional Ownership by Quarter for ADC Therapeutics (NYSE:ADCT)

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