Redmile Group, Llc Acquires 100,000 Shares of ADC Therapeutics SA (NYSE:ADCT) Stock

ADC Therapeutics SA (NYSE:ADCT - Get Free Report) major shareholder Redmile Group, Llc acquired 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average cost of $3.04 per share, for a total transaction of $304,000.00. Following the completion of the purchase, the insider now directly owns 13,145,712 shares of the company's stock, valued at $39,962,964.48. The trade was a 0.77 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company's shares 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 shares were sold at an average price of $2.07, for a total value of $52,478.64.

ADC Therapeutics Stock Performance

Shares of ADCT stock traded down $0.09 on Friday, hitting $1.89. The company had a trading volume of 1,468,980 shares, compared to its average volume of 700,270. The stock's 50-day moving average is $2.70 and its two-hundred day moving average is $2.99. ADC Therapeutics SA has a twelve month low of $1.18 and a twelve month high of $6.04. The firm has a market cap of $182.74 million, a P/E ratio of -0.79 and a beta of 1.52.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last issued its quarterly 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 for the quarter, compared to analysts' expectations of $18.76 million. During the same quarter in the prior year, the business earned ($0.58) EPS. Equities research analysts predict that ADC Therapeutics SA will post -1.67 EPS for the current year.

Institutional Trading of ADC Therapeutics

A number of institutional investors have recently bought and sold shares of ADCT. Affinity Asset Advisors LLC bought a new stake in shares of ADC Therapeutics during the 2nd quarter valued at about $1,500,000. Redmile Group LLC lifted its stake in ADC Therapeutics by 2.6% in the third quarter. Redmile Group LLC now owns 15,669,217 shares of the company's stock valued at $49,358,000 after buying an additional 400,000 shares during the period. Bank of New York Mellon Corp bought a new position in shares of ADC Therapeutics during the 2nd quarter worth approximately $648,000. Wellington Management Group LLP acquired a new stake in shares of ADC Therapeutics during the 3rd quarter worth approximately $531,000. Finally, Geode Capital Management LLC increased its stake in shares of ADC Therapeutics by 15.6% in the 3rd quarter. Geode Capital Management LLC now owns 953,171 shares of the company's stock valued at $3,002,000 after acquiring an additional 128,454 shares in the last quarter. Institutional investors own 41.10% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. HC Wainwright reiterated a "buy" rating on shares of ADC Therapeutics in a research report on Wednesday. Stephens assumed coverage on shares of ADC Therapeutics in a report on Friday, November 8th. They set an "overweight" rating and a $6.00 price target on the stock. Finally, Guggenheim restated a "buy" rating and issued a $10.00 target price on shares of ADC Therapeutics in a research report on Thursday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $8.00.

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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