Squarepoint Ops LLC Increases Position in ADC Therapeutics SA (NYSE:ADCT)

Squarepoint Ops LLC raised its holdings in shares of ADC Therapeutics SA (NYSE:ADCT) by 42.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,231 shares of the company’s stock after buying an additional 31,839 shares during the period. Squarepoint Ops LLC owned about 0.11% of ADC Therapeutics worth $213,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Orbimed Advisors LLC boosted its position in ADC Therapeutics by 31.6% in the 4th quarter. Orbimed Advisors LLC now owns 5,968,451 shares of the company’s stock valued at $11,877,000 after buying an additional 1,434,650 shares during the period. Platinum Investment Management Ltd. boosted its holdings in shares of ADC Therapeutics by 11.6% in 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 holdings in shares of ADC Therapeutics by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 963,109 shares of the company’s stock valued at $1,917,000 after purchasing an additional 9,938 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of ADC Therapeutics in the fourth quarter valued at approximately $1,426,000. Finally, Wellington Management Group LLP lifted its holdings in shares of ADC Therapeutics by 50.3% in the 4th quarter. Wellington Management Group LLP now owns 253,342 shares of the company’s stock worth $504,000 after buying an additional 84,785 shares during the period. Hedge funds and other institutional investors own 41.10% of the company’s stock.

Analyst Ratings Changes

ADCT has been the subject of several research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $8.00 target price on shares of ADC Therapeutics in a report on Thursday, May 15th. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of ADC Therapeutics in a research report on Monday, March 31st. Stephens raised their price target on shares of ADC Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Cantor Fitzgerald reissued an “overweight” rating on shares of ADC Therapeutics in a research report on Friday, March 7th. Finally, Guggenheim lowered their price target on ADC Therapeutics from $10.00 to $7.00 and set a “buy” rating for the company in a report on Monday, March 31st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, ADC Therapeutics currently has an average rating of “Buy” and a consensus target price of $7.75.

ADC Therapeutics Trading Up 7.0%

Shares of NYSE:ADCT opened at $3.68 on Friday. The business has a 50-day moving average price of $1.76 and a 200 day moving average price of $1.82. The company has a market capitalization of $364.98 million, a price-to-earnings ratio of -1.54 and a beta of 1.96. ADC Therapeutics SA has a 12-month low of $1.05 and a 12-month high of $4.13.

ADC Therapeutics (NYSE:ADCT) last posted its earnings results 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, equities research analysts predict that ADC Therapeutics SA will post -1.69 earnings per share 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.