ADC Therapeutics SA (NYSE:ADCT) Stock Position Boosted by Deutsche Bank AG

Deutsche Bank AG increased its stake in ADC Therapeutics SA (NYSE:ADCT) by 40.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,062 shares of the company’s stock after acquiring an additional 16,217 shares during the period. Deutsche Bank AG owned approximately 0.06% of ADC Therapeutics worth $112,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ADCT. Kazazian Asset Management LLC acquired a new position in ADC Therapeutics in the fourth quarter worth approximately $26,000. Two Sigma Securities LLC bought a new stake in ADC Therapeutics in the fourth quarter worth $30,000. Russell Investments Group Ltd. raised its position in shares of ADC Therapeutics by 122.6% in the fourth quarter. Russell Investments Group Ltd. now owns 16,794 shares of the company’s stock valued at $33,000 after purchasing an additional 9,248 shares during the period. Prudential Financial Inc. acquired a new stake in shares of ADC Therapeutics in the fourth quarter worth $35,000. Finally, Sei Investments Co. bought a new stake in shares of ADC Therapeutics during the 4th quarter worth $46,000. Institutional investors and hedge funds own 41.10% of the company’s stock.

Analyst Ratings Changes

ADCT has been the subject of a number of research analyst reports. HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of ADC Therapeutics in a research report on Monday, March 31st. Guggenheim decreased their target price on ADC Therapeutics from $10.00 to $7.00 and set a “buy” rating for the company 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $8.00 price target on shares of ADC Therapeutics in a research report on Thursday, May 15th. Finally, Stephens increased their price objective on ADC Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, ADC Therapeutics currently has a consensus rating of “Buy” and an average target price of $7.75.

ADC Therapeutics Trading Up 2.4%

NYSE:ADCT opened at $3.60 on Wednesday. The stock has a market capitalization of $356.54 million, a P/E ratio of -1.50 and a beta of 1.54. ADC Therapeutics SA has a 1 year low of $1.05 and a 1 year high of $4.13. The firm has a 50 day moving average of $1.64 and a 200-day moving average of $1.79.

ADC Therapeutics (NYSE:ADCT) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.02. The company had revenue of $23.03 million during the quarter, compared to analyst estimates of $17.71 million. As a group, analysts forecast that ADC Therapeutics SA will post -1.69 EPS for the current fiscal year.

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.