ADC Therapeutics SA (NYSE:ADCT) Shares Bought by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. grew its stake in shares of ADC Therapeutics SA (NYSE:ADCT - Free Report) by 11.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,612,556 shares of the company's stock after buying an additional 168,040 shares during the period. Platinum Investment Management Ltd. owned 1.67% of ADC Therapeutics worth $3,209,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ADCT. SG Americas Securities LLC grew its position in ADC Therapeutics by 35.6% during the fourth quarter. SG Americas Securities LLC now owns 36,140 shares of the company's stock valued at $72,000 after acquiring an additional 9,483 shares during the period. Bank of New York Mellon Corp increased its position in ADC Therapeutics by 6.0% during the 4th quarter. Bank of New York Mellon Corp now owns 171,993 shares of the company's stock worth $342,000 after purchasing an additional 9,750 shares in the last quarter. Intech Investment Management LLC purchased a new position in ADC Therapeutics in the third quarter valued at approximately $41,000. Rhumbline Advisers raised its holdings in ADC Therapeutics by 15.6% in the fourth quarter. Rhumbline Advisers now owns 110,037 shares of the company's stock valued at $219,000 after buying an additional 14,848 shares during the period. Finally, Readystate Asset Management LP acquired a new position in ADC Therapeutics during the third quarter valued at approximately $54,000. 41.10% of the stock is currently owned by institutional investors and hedge funds.

ADC Therapeutics Trading Down 5.6 %

NYSE:ADCT traded down $0.10 on Friday, reaching $1.61. The stock had a trading volume of 567,910 shares, compared to its average volume of 615,659. ADC Therapeutics SA has a 12-month low of $1.39 and a 12-month high of $5.38. The stock has a market cap of $155.19 million, a P/E ratio of -0.67 and a beta of 1.51. The company has a 50-day moving average of $1.69 and a 200 day moving average of $2.30.

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Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Guggenheim reissued a "buy" rating and issued a $10.00 target price on shares of ADC Therapeutics in a research note on Thursday, December 12th. HC Wainwright reissued a "buy" rating and issued a $8.00 price objective on shares of ADC Therapeutics in a research report on Monday, January 6th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of ADC Therapeutics in a research report on Friday, March 7th. Finally, Stephens increased their target price on ADC Therapeutics from $6.00 to $8.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $8.50.

ADC Therapeutics 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.