Rhumbline Advisers Purchases Shares of 85,977 ADC Therapeutics SA (NYSE:ADCT)

Rhumbline Advisers acquired a new stake in shares of ADC Therapeutics SA (NYSE:ADCT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 85,977 shares of the company’s stock, valued at approximately $272,000. Rhumbline Advisers owned about 0.10% of ADC Therapeutics at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. raised its stake in shares of ADC Therapeutics by 7.1% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 70,636 shares of the company’s stock valued at $317,000 after acquiring an additional 4,700 shares during the last quarter. Sanibel Captiva Trust Company Inc. lifted its position in ADC Therapeutics by 9.7% in the 2nd quarter. Sanibel Captiva Trust Company Inc. now owns 113,000 shares of the company’s stock valued at $357,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in ADC Therapeutics during the 2nd quarter valued at $648,000. Hedge funds and other institutional investors own 41.10% of the company’s stock.

ADC Therapeutics Stock Performance

ADCT stock opened at $3.08 on Friday. The company has a market cap of $297.68 million, a price-to-earnings ratio of -1.12 and a beta of 1.58. The business’s 50-day moving average is $3.04 and its two-hundred day moving average is $3.62. ADC Therapeutics SA has a fifty-two week low of $0.36 and a fifty-two week high of $6.04.

ADC Therapeutics (NYSE:ADCT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.06. The firm had revenue of $17.41 million during the quarter, compared to analysts’ expectations of $19.06 million. During the same period last year, the company earned ($0.58) earnings per share. Equities analysts predict that ADC Therapeutics SA will post -1.69 earnings per share for the current year.

Insider Activity

In other news, major shareholder Redmile Group, Llc purchased 400,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was acquired at an average price of $2.81 per share, for a total transaction 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.05% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of ADC Therapeutics in a research report on Thursday, August 8th. Royal Bank of Canada restated an “outperform” rating and issued a $8.00 target price on shares of ADC Therapeutics in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, ADC Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $9.00.

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.