Barclays PLC Buys 93,890 Shares of ADC Therapeutics SA (NYSE:ADCT)

Barclays PLC raised its stake in shares of ADC Therapeutics SA (NYSE:ADCT) by 277.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 127,739 shares of the company’s stock after acquiring an additional 93,890 shares during the quarter. Barclays PLC owned approximately 0.13% of ADC Therapeutics worth $402,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. XTX Topco Ltd lifted its holdings in ADC Therapeutics by 102.4% during the 3rd quarter. XTX Topco Ltd now owns 115,073 shares of the company’s stock valued at $362,000 after purchasing an additional 58,210 shares during the last quarter. Jane Street Group LLC grew its stake in ADC Therapeutics by 272.4% during the third quarter. Jane Street Group LLC now owns 53,126 shares of the company’s stock worth $167,000 after buying an additional 38,859 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of ADC Therapeutics during the third quarter worth approximately $531,000. State Street Corp raised its stake in shares of ADC Therapeutics by 11.6% in the third quarter. State Street Corp now owns 1,106,011 shares of the company’s stock valued at $3,484,000 after acquiring an additional 114,715 shares during the last quarter. Finally, Readystate Asset Management LP acquired a new position in shares of ADC Therapeutics in the 3rd quarter worth approximately $54,000. Institutional investors and hedge funds own 41.10% of the company’s stock.

Insider Buying and Selling at ADC Therapeutics

In other ADC Therapeutics news, major shareholder Redmile Group, Llc bought 100,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was purchased at an average price of $3.04 per share, with a total value of $304,000.00. Following the acquisition, the insider now owns 13,145,712 shares of the company’s stock, valued at approximately $39,962,964.48. The trade was a 0.77 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.10% of the company’s stock.

ADC Therapeutics Stock Performance

NYSE:ADCT opened at $2.02 on Friday. The company has a market cap of $195.31 million, a price-to-earnings ratio of -0.85 and a beta of 1.52. The stock’s fifty day moving average price is $2.41 and its two-hundred day moving average price is $2.85. ADC Therapeutics SA has a 52-week low of $1.45 and a 52-week high of $6.04.

ADC Therapeutics (NYSE:ADCT) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.06). The firm had revenue of $18.46 million during the quarter, compared to analyst estimates of $18.76 million. During the same quarter in the previous year, the business earned ($0.58) earnings per share. On average, equities analysts predict that ADC Therapeutics SA will post -1.67 EPS for the current fiscal year.

Analyst Ratings Changes

ADCT has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating on shares of ADC Therapeutics in a report on Wednesday, December 11th. Stephens assumed coverage on ADC Therapeutics in a report on Friday, November 8th. They set an “overweight” rating and a $6.00 target price on the stock. Finally, Guggenheim reaffirmed a “buy” rating and issued a $10.00 price target on shares of ADC Therapeutics in a report on Thursday, December 12th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ADC Therapeutics currently has a consensus rating of “Buy” and an average 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.