ADC Therapeutics SA (NYSE:ADCT) Stock Holdings Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in shares of ADC Therapeutics SA (NYSE:ADCT) by 164.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 78,813 shares of the company’s stock after buying an additional 48,976 shares during the period. JPMorgan Chase & Co. owned 0.08% of ADC Therapeutics worth $248,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Redmile Group LLC grew its position in shares of ADC Therapeutics by 2.6% during the third quarter. Redmile Group LLC now owns 15,669,217 shares of the company’s stock worth $49,358,000 after acquiring an additional 400,000 shares during the last quarter. State Street Corp grew its position in ADC Therapeutics by 11.6% in the 3rd quarter. State Street Corp now owns 1,106,011 shares of the company’s stock worth $3,484,000 after purchasing an additional 114,715 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of ADC Therapeutics by 15.6% in the third quarter. Geode Capital Management LLC now owns 953,171 shares of the company’s stock valued at $3,002,000 after purchasing an additional 128,454 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of ADC Therapeutics by 10.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 194,258 shares of the company’s stock valued at $612,000 after buying an additional 18,796 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in shares of ADC Therapeutics during the third quarter worth approximately $531,000. Institutional investors and hedge funds own 41.10% of the company’s stock.

Insider Activity

In other news, major shareholder Redmile Group, Llc sold 25,352 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $2.07, for a total transaction of $52,478.64. Following the sale, the insider now owns 15,566,731 shares in the company, valued at $32,223,133.17. The trade was a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.10% of the company’s stock.

ADC Therapeutics Stock Down 2.6 %

Shares of ADCT stock opened at $1.68 on Friday. The stock has a 50-day simple moving average of $2.03 and a 200 day simple moving average of $2.68. ADC Therapeutics SA has a fifty-two week low of $1.59 and a fifty-two week high of $6.04. The stock has a market capitalization of $161.96 million, a P/E ratio of -0.70 and a beta of 1.55.

ADC Therapeutics (NYSE:ADCT) last released its earnings results on Thursday, November 7th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.06). The company had revenue of $18.46 million for the quarter, compared to analyst estimates of $18.76 million. During the same quarter in the prior year, the firm earned ($0.58) EPS. On average, sell-side analysts anticipate that ADC Therapeutics SA will post -1.69 earnings per share for the current year.

Analyst Ratings Changes

ADCT has been the topic of several recent analyst reports. Guggenheim reaffirmed a “buy” rating and set a $10.00 target price on shares of ADC Therapeutics in a research note on Thursday, December 12th. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of ADC Therapeutics in a report on Monday, January 6th. Finally, Stephens started coverage on shares of ADC Therapeutics in a research note on Friday, November 8th. They set an “overweight” rating and a $6.00 target price on the stock. Five research analysts have rated the stock with a buy rating, According to MarketBeat, ADC Therapeutics has an average rating of “Buy” and a consensus target price 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.