Russell Investments Group Ltd. Buys 9,248 Shares of ADC Therapeutics SA (NYSE:ADCT)

Russell Investments Group Ltd. raised its stake in shares of ADC Therapeutics SA (NYSE:ADCT) by 122.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,794 shares of the company’s stock after purchasing an additional 9,248 shares during the period. Russell Investments Group Ltd.’s holdings in ADC Therapeutics were worth $33,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Platinum Investment Management Ltd. increased its position in shares of ADC Therapeutics by 11.6% during the fourth quarter. Platinum Investment Management Ltd. now owns 1,612,556 shares of the company’s stock valued at $3,209,000 after purchasing an additional 168,040 shares during the period. Geode Capital Management LLC boosted its position in shares of ADC Therapeutics by 15.6% during the 3rd quarter. Geode Capital Management LLC now owns 953,171 shares of the company’s stock valued at $3,002,000 after acquiring an additional 128,454 shares in the last quarter. State Street Corp increased its stake in ADC Therapeutics by 11.6% in the third quarter. State Street Corp now owns 1,106,011 shares of the company’s stock valued at $3,484,000 after acquiring an additional 114,715 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in ADC Therapeutics during the third quarter valued at approximately $315,000. Finally, Barclays PLC grew its stake in shares of ADC Therapeutics by 277.4% in the 3rd quarter. Barclays PLC now owns 127,739 shares of the company’s stock valued at $402,000 after purchasing an additional 93,890 shares during the period. 41.10% of the stock is owned by institutional investors and hedge funds.

ADC Therapeutics Trading Down 1.5 %

Shares of NYSE ADCT opened at $1.34 on Monday. ADC Therapeutics SA has a 12 month low of $1.05 and a 12 month high of $5.17. The stock has a 50 day moving average of $1.49 and a 200-day moving average of $1.97. The company has a market capitalization of $132.90 million, a P/E ratio of -0.56 and a beta of 1.55.

ADC Therapeutics (NYSE:ADCT) last posted its earnings results on Thursday, March 27th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.06. The firm had revenue of $19.00 million during the quarter, compared to analyst estimates of $19.01 million. Analysts predict that ADC Therapeutics SA will post -1.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ADCT shares. Guggenheim reduced their target price on shares of ADC Therapeutics from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ADC Therapeutics in a report on Friday, March 7th. Stephens raised their target price on ADC Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Finally, HC Wainwright reissued a “buy” rating and set a $8.00 price target on shares of ADC Therapeutics in a research note on Monday, March 31st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ADC Therapeutics has an average rating of “Buy” and a consensus price target of $7.75.

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.