ADC Therapeutics (NYSE:ADCT) Major Shareholder Sells $735,858.75 in Stock

ADC Therapeutics SA (NYSE:ADCT) major shareholder Redmile Group, Llc sold 196,229 shares of the stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $3.75, for a total value of $735,858.75. Following the sale, the insider directly owned 15,470,502 shares of the company’s stock, valued at approximately $58,014,382.50. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Redmile Group, Llc also recently made the following trade(s):

• On Thursday, April 2nd, Redmile Group, Llc sold 2,634,506 shares of ADC Therapeutics stock. The shares were sold at an average price of $3.28, for a total value of $8,641,179.68.
• On Thursday, April 2nd, Redmile Group, Llc sold 2,529,491 shares of ADC Therapeutics stock. The shares were sold at an average price of $3.28, for a total value of $8,296,730.48.
• On Wednesday, April 1st, Redmile Group, Llc sold 169,265 shares of ADC Therapeutics stock. The stock was sold at an average price of $3.80, for a total value of $643,207.00.
• On Wednesday, April 1st, Redmile Group, Llc sold 162,517 shares of ADC Therapeutics stock. The shares were sold at an average price of $3.80, for a total value of $617,564.60.
• On Tuesday, March 31st, Redmile Group, Llc sold 188,407 shares of ADC Therapeutics stock. The shares were sold at an average price of $3.75, for a total transaction of $706,526.25.

ADC Therapeutics Trading Up 0.1%

NYSE:ADCT traded up $0.01 on Thursday, hitting $3.81. 1,355,030 shares of the stock were exchanged, compared to its average volume of 874,276. The stock has a fifty day moving average of $4.02 and a 200-day moving average of $3.95. The stock has a market cap of $483.39 million, a PE ratio of -3.17 and a beta of 1.94. ADC Therapeutics SA has a fifty-two week low of $1.05 and a fifty-two week high of $4.98.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings data on Saturday, February 14th. The company reported ($0.09) earnings per share for the quarter. The firm had revenue of $23.06 million during the quarter. As a group, analysts predict that ADC Therapeutics SA will post -1.69 earnings per share for the current year.

Institutional Trading of ADC Therapeutics

Several institutional investors have recently added to or reduced their stakes in ADCT. ProShare Advisors LLC boosted its holdings in shares of ADC Therapeutics by 27.0% in the 4th quarter. ProShare Advisors LLC now owns 15,727 shares of the company’s stock valued at $56,000 after buying an additional 3,339 shares during the period. Russell Investments Group Ltd. grew its position in shares of ADC Therapeutics by 31.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 32,502 shares of the company’s stock valued at $130,000 after buying an additional 7,701 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in ADC Therapeutics by 25.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 46,750 shares of the company’s stock worth $166,000 after acquiring an additional 9,537 shares during the period. ExodusPoint Capital Management LP lifted its holdings in ADC Therapeutics by 23.6% in the fourth quarter. ExodusPoint Capital Management LP now owns 56,783 shares of the company’s stock worth $200,000 after acquiring an additional 10,842 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new position in ADC Therapeutics in the fourth quarter worth about $43,000. Institutional investors own 41.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $5.00 target price on shares of ADC Therapeutics in a report on Wednesday, December 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of ADC Therapeutics in a research report on Wednesday, January 21st. Finally, HC Wainwright upped their target price on ADC Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Monday, March 23rd. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $7.67.

About ADC Therapeutics

ADC Therapeutics SA is a clinical-stage biopharmaceutical company focused on the discovery and development of highly targeted antibody-drug conjugates (ADCs) designed to treat hematological malignancies such as non-Hodgkin lymphoma and acute myeloid leukemia. By marrying the specificity of monoclonal antibodies with potent cytotoxic payloads, the company aims to maximize tumor cell eradication while limiting off-target toxicity.

At the core of ADC Therapeutics’ portfolio is loncastuximab tesirine-lpyl, a CD19-directed ADC that received accelerated approval from the U.S.