Insider Selling: ADC Therapeutics SA (NYSE:ADCT) Major Shareholder Sells 25,352 Shares of Stock

ADC Therapeutics SA (NYSE:ADCT - Get Free Report) major shareholder Redmile Group, Llc sold 25,352 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $2.07, for a total transaction of $52,478.64. Following the sale, the insider now directly owns 15,566,731 shares of the company's stock, valued at approximately $32,223,133.17. This trade represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

ADC Therapeutics Stock Performance

ADCT stock traded up $1.23 during trading on Friday, hitting $3.15. 8,881,359 shares of the company's stock traded hands, compared to its average volume of 655,883. ADC Therapeutics SA has a 52 week low of $0.94 and a 52 week high of $6.04. The stock has a market capitalization of $304.57 million, a price-to-earnings ratio of -1.28 and a beta of 1.52. The business has a fifty day simple moving average of $2.75 and a 200 day simple moving average of $3.03.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.42) EPS for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.06). The company had revenue of $18.46 million for the quarter, compared to analysts' expectations of $18.76 million. During the same period last year, the firm posted ($0.58) earnings per share. Research analysts forecast that ADC Therapeutics SA will post -1.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ADCT has been the topic of several research analyst reports. Stephens started coverage on shares of ADC Therapeutics in a research note on Friday, November 8th. They issued an "overweight" rating and a $6.00 price target on the stock. HC Wainwright reiterated a "buy" rating and issued a $8.00 target price on shares of ADC Therapeutics in a research report on Thursday, August 8th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, ADC Therapeutics presently has a consensus rating of "Buy" and an average target price of $8.25.

Institutional Trading of ADC Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sanibel Captiva Trust Company Inc. lifted its stake in ADC Therapeutics by 9.7% in the second quarter. Sanibel Captiva Trust Company Inc. now owns 113,000 shares of the company's stock worth $357,000 after purchasing an additional 10,000 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in ADC Therapeutics during the 2nd quarter valued at $33,000. Intech Investment Management LLC bought a new position in ADC Therapeutics in the 3rd quarter valued at $41,000. Acadian Asset Management LLC purchased a new stake in ADC Therapeutics in the second quarter worth $51,000. Finally, Readystate Asset Management LP bought a new stake in shares of ADC Therapeutics during the third quarter worth $54,000. Hedge funds and other institutional investors own 41.10% of the company's stock.

ADC Therapeutics Company 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.

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