Charles Schwab Investment Management Inc. Acquires 18,796 Shares of ADC Therapeutics SA (NYSE:ADCT)

Charles Schwab Investment Management Inc. grew its holdings in shares of ADC Therapeutics SA (NYSE:ADCT) by 10.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 194,258 shares of the company’s stock after buying an additional 18,796 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.20% of ADC Therapeutics worth $612,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new stake in ADC Therapeutics in the 2nd quarter valued at about $33,000. Intech Investment Management LLC bought a new position in shares of ADC Therapeutics in the third quarter valued at $41,000. Acadian Asset Management LLC bought a new stake in shares of ADC Therapeutics during the second quarter worth about $51,000. SG Americas Securities LLC acquired a new stake in shares of ADC Therapeutics in the 3rd quarter worth about $84,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of ADC Therapeutics in the 2nd quarter worth about $85,000. Institutional investors and hedge funds own 41.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ADCT. Guggenheim reissued a “buy” rating and issued a $10.00 price objective on shares of ADC Therapeutics in a research note on Thursday, December 12th. HC Wainwright reissued a “buy” rating on shares of ADC Therapeutics in a research report on Wednesday, December 11th. Finally, Stephens assumed coverage on shares of ADC Therapeutics in a report on Friday, November 8th. They set an “overweight” rating and a $6.00 price objective on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, ADC Therapeutics has a consensus rating of “Buy” and a consensus price target of $8.00.

ADC Therapeutics Stock Down 10.3 %

ADCT stock opened at $1.91 on Thursday. The business has a 50 day moving average of $2.63 and a 200-day moving average of $2.95. The firm has a market cap of $184.68 million, a PE ratio of -0.80 and a beta of 1.52. ADC Therapeutics SA has a 12-month low of $1.18 and a 12-month high of $6.04.

ADC Therapeutics (NYSE:ADCT) last announced its earnings results on Thursday, November 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.06). The firm 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 company posted ($0.58) earnings per share. On average, research analysts expect that ADC Therapeutics SA will post -1.67 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Redmile Group, Llc acquired 100,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average cost of $3.04 per share, for a total transaction of $304,000.00. Following the purchase, the insider now owns 13,145,712 shares of the company’s stock, valued at approximately $39,962,964.48. The trade was a 0.77 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

About ADC Therapeutics

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.