ADC Therapeutics SA (NYSE:ADCT) Stock Holdings Raised by Redmile Group LLC

Redmile Group LLC increased its stake in shares of ADC Therapeutics SA (NYSE:ADCT - Free Report) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,669,217 shares of the company's stock after buying an additional 400,000 shares during the period. ADC Therapeutics comprises 2.9% of Redmile Group LLC's portfolio, making the stock its 12th largest holding. Redmile Group LLC owned 16.21% of ADC Therapeutics worth $49,358,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sanibel Captiva Trust Company Inc. boosted its stake in shares of ADC Therapeutics by 9.7% during the 2nd quarter. Sanibel Captiva Trust Company Inc. now owns 113,000 shares of the company's stock worth $357,000 after acquiring an additional 10,000 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in ADC Therapeutics during the second quarter worth $648,000. Rhumbline Advisers acquired a new stake in ADC Therapeutics in the second quarter valued at $272,000. Acadian Asset Management LLC purchased a new position in shares of ADC Therapeutics in the second quarter valued at $51,000. Finally, XTX Topco Ltd raised its stake in shares of ADC Therapeutics by 129.0% during the 2nd quarter. XTX Topco Ltd now owns 56,863 shares of the company's stock worth $180,000 after buying an additional 32,034 shares during the last quarter. 41.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ADCT shares. Stephens assumed coverage on shares of ADC Therapeutics in a research note on Friday, November 8th. They issued an "overweight" rating and a $6.00 price objective on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $8.00 price objective on shares of ADC Therapeutics in a research note on Wednesday, August 7th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $8.00 target price on shares of ADC Therapeutics in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $8.25.

ADC Therapeutics Stock Performance

Shares of ADCT stock traded down $0.15 on Thursday, hitting $1.92. The stock had a trading volume of 736,599 shares, compared to its average volume of 620,882. The stock's 50 day moving average is $2.75 and its 200-day moving average is $3.03. The firm has a market capitalization of $185.16 million, a price-to-earnings ratio of -0.80 and a beta of 1.52. ADC Therapeutics SA has a 52-week low of $0.94 and a 52-week high of $6.04.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last announced 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 firm had revenue of $18.46 million during the quarter, compared to analyst estimates of $18.76 million. During the same quarter last year, the firm posted ($0.58) earnings per share. Equities analysts expect that ADC Therapeutics SA will post -1.73 earnings per share for the current 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.