The Manufacturers Life Insurance Company Purchases Shares of 26,938 ADC Therapeutics SA (NYSE:ADCT)

The Manufacturers Life Insurance Company acquired a new stake in ADC Therapeutics SA (NYSE:ADCT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 26,938 shares of the company’s stock, valued at approximately $85,000.

A number of other large investors have also recently made changes to their positions in ADCT. Affinity Asset Advisors LLC acquired a new stake in shares of ADC Therapeutics in the 2nd quarter worth about $1,500,000. XTX Topco Ltd increased its holdings in ADC Therapeutics by 129.0% during the 2nd quarter. XTX Topco Ltd now owns 56,863 shares of the company’s stock worth $180,000 after purchasing an additional 32,034 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of ADC Therapeutics in the second quarter worth approximately $51,000. Rhumbline Advisers bought a new position in shares of ADC Therapeutics in the second quarter valued at approximately $272,000. Finally, Bank of New York Mellon Corp bought a new position in shares of ADC Therapeutics in the second quarter valued at approximately $648,000. 41.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of ADC Therapeutics in a research report on Thursday, August 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $8.00 target price on shares of ADC Therapeutics in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, ADC Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $9.00.

ADC Therapeutics Trading Down 0.6 %

Shares of ADCT opened at $3.12 on Monday. The stock has a 50 day moving average of $2.99 and a 200 day moving average of $3.48. ADC Therapeutics SA has a 12 month low of $0.36 and a 12 month high of $6.04. The company has a market capitalization of $258.26 million, a price-to-earnings ratio of -1.13 and a beta of 1.58.

ADC Therapeutics (NYSE:ADCT) last released its earnings results on Tuesday, August 6th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.06. The business had revenue of $17.41 million for the quarter, compared to the consensus estimate of $19.06 million. During the same quarter in the previous year, the firm earned ($0.58) earnings per share. As a group, equities research analysts predict that ADC Therapeutics SA will post -1.69 earnings per share for the current year.

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.