ADC Therapeutics SA (NYSE:ADCT - Get Free Report) major shareholder Redmile Group, Llc bought 100,000 shares of the firm's stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average price of $3.04 per share, with a total value of $304,000.00. Following the purchase, the insider now directly owns 13,145,712 shares of the company's stock, valued at approximately $39,962,964.48. This trade represents a 0.77 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Redmile Group, Llc also recently made the following trade(s):
- On Wednesday, December 4th, Redmile Group, Llc sold 25,352 shares of ADC Therapeutics stock. The stock was sold at an average price of $2.07, for a total transaction of $52,478.64.
ADC Therapeutics Trading Down 4.5 %
Shares of ADC Therapeutics stock opened at $1.89 on Friday. ADC Therapeutics SA has a 12-month low of $1.18 and a 12-month high of $6.04. The stock has a market cap of $182.74 million, a PE ratio of -0.79 and a beta of 1.52. The company has a 50-day moving average of $2.70 and a two-hundred day moving average of $2.99.
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ADC Therapeutics (NYSE:ADCT - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.06). The business had revenue of $18.46 million for the quarter, compared to the consensus estimate of $18.76 million. During the same period in the previous year, the business posted ($0.58) earnings per share. On average, sell-side analysts forecast that ADC Therapeutics SA will post -1.67 EPS for the current fiscal year.
Institutional Trading of ADC Therapeutics
Several large investors have recently modified their holdings of ADCT. Redmile Group LLC boosted its position in ADC Therapeutics by 2.6% during the third quarter. Redmile Group LLC now owns 15,669,217 shares of the company's stock worth $49,358,000 after acquiring an additional 400,000 shares during the last quarter. State Street Corp boosted its position in ADC Therapeutics by 11.6% during the third quarter. State Street Corp now owns 1,106,011 shares of the company's stock worth $3,484,000 after acquiring an additional 114,715 shares during the last quarter. Geode Capital Management LLC boosted its position in ADC Therapeutics by 15.6% during the third quarter. Geode Capital Management LLC now owns 953,171 shares of the company's stock worth $3,002,000 after acquiring an additional 128,454 shares during the last quarter. Affinity Asset Advisors LLC acquired a new stake in ADC Therapeutics during the second quarter worth approximately $1,500,000. Finally, Bank of New York Mellon Corp acquired a new stake in ADC Therapeutics during the second quarter worth approximately $648,000. 41.10% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
ADCT has been the subject of several analyst reports. Guggenheim reissued a "buy" rating and set a $10.00 price target on shares of ADC Therapeutics in a report on Thursday. HC Wainwright reissued a "buy" rating on shares of ADC Therapeutics in a report on Wednesday. Finally, Stephens initiated coverage on shares of ADC Therapeutics in a report on Friday, November 8th. They set an "overweight" rating and a $6.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, ADC Therapeutics currently has an average rating of "Buy" and a consensus target price of $8.00.
Get Our Latest Stock Analysis on ADC Therapeutics
ADC Therapeutics Company Profile
(
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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.
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