BNP Paribas Financial Markets Purchases Shares of 716,668 ADC Therapeutics SA (NYSE:ADCT)

BNP Paribas Financial Markets purchased a new stake in ADC Therapeutics SA (NYSE:ADCT) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 716,668 shares of the company’s stock, valued at approximately $1,426,000. BNP Paribas Financial Markets owned about 0.74% of ADC Therapeutics as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Two Sigma Securities LLC bought a new stake in shares of ADC Therapeutics in the 4th quarter worth about $30,000. Barclays PLC increased its holdings in shares of ADC Therapeutics by 10.8% in the 4th quarter. Barclays PLC now owns 141,495 shares of the company’s stock worth $282,000 after buying an additional 13,756 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of ADC Therapeutics by 122.6% in the 4th quarter. Russell Investments Group Ltd. now owns 16,794 shares of the company’s stock worth $33,000 after buying an additional 9,248 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of ADC Therapeutics by 39.4% in the 4th quarter. Wells Fargo & Company MN now owns 41,832 shares of the company’s stock worth $83,000 after buying an additional 11,834 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of ADC Therapeutics by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 963,109 shares of the company’s stock worth $1,917,000 after buying an additional 9,938 shares during the last quarter. 41.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ADCT has been the topic of a number of research reports. 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 report on Monday, March 31st. HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of ADC Therapeutics in a report on Monday, March 31st. Royal Bank of Canada restated an “outperform” rating and issued a $8.00 target price on shares of ADC Therapeutics in a report on Thursday. Stephens lifted their price target on shares of ADC Therapeutics from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ADC Therapeutics in a research note on Friday, March 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, ADC Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $7.75.

ADC Therapeutics Trading Up 10.9%

ADCT stock opened at $1.88 on Monday. ADC Therapeutics SA has a 12 month low of $1.05 and a 12 month high of $4.23. The company has a 50-day moving average price of $1.42 and a 200 day moving average price of $1.81. The stock has a market cap of $185.96 million, a PE ratio of -0.78 and a beta of 1.54.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.02. The firm had revenue of $23.03 million for the quarter, compared to analysts’ expectations of $17.71 million. Sell-side analysts forecast that ADC Therapeutics SA will post -1.69 EPS for the current year.

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.