ADC Therapeutics SA (NYSE:ADCT – Get Free Report) major shareholder Redmile Group, Llc acquired 400,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were bought at an average cost of $2.81 per share, for a total transaction of $1,124,000.00. Following the acquisition, the insider now owns 12,995,040 shares in the company, valued at $36,516,062.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large 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 Down 12.1 %
NYSE:ADCT opened at $3.06 on Friday. The stock’s fifty day simple moving average is $3.63 and its 200-day simple moving average is $3.63. The firm has a market capitalization of $253.31 million, a P/E ratio of -1.11 and a beta of 1.59. ADC Therapeutics SA has a 12-month low of $0.36 and a 12-month high of $6.04.
ADC Therapeutics (NYSE:ADCT – Get Free Report) last announced its quarterly earnings results on Monday, May 6th. The company reported ($0.56) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.56). The firm had revenue of $18.05 million during the quarter, compared to analyst estimates of $18.19 million. During the same quarter in the prior year, the business earned ($0.74) earnings per share. As a group, equities research analysts expect that ADC Therapeutics SA will post -1.92 earnings per share for the current year.
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Hedge Funds Weigh In On ADC Therapeutics
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. raised its position in shares of ADC Therapeutics by 7.1% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 70,636 shares of the company’s stock worth $317,000 after purchasing an additional 4,700 shares during the period. Saxony Capital Management LLC acquired a new stake in ADC Therapeutics during the 4th quarter worth approximately $34,000. Sanibel Captiva Trust Company Inc. acquired a new stake in ADC Therapeutics during the 1st quarter worth approximately $462,000. Finally, Redmile Group LLC lifted its stake in ADC Therapeutics by 0.9% in the third quarter. Redmile Group LLC now owns 14,178,045 shares of the company’s stock valued at $12,718,000 after buying an additional 128,110 shares in the last quarter. 41.10% of the stock is owned by institutional investors.
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.
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