SG Americas Securities LLC Increases Stock Holdings in ADC Therapeutics SA (NYSE:ADCT)

SG Americas Securities LLC raised its stake in ADC Therapeutics SA (NYSE:ADCT) by 35.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,140 shares of the company’s stock after purchasing an additional 9,483 shares during the quarter. SG Americas Securities LLC’s holdings in ADC Therapeutics were worth $72,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of ADC Therapeutics by 164.1% in the third quarter. JPMorgan Chase & Co. now owns 78,813 shares of the company’s stock valued at $248,000 after buying an additional 48,976 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in ADC Therapeutics during the third quarter worth $315,000. Barclays PLC raised its holdings in ADC Therapeutics by 277.4% during the third quarter. Barclays PLC now owns 127,739 shares of the company’s stock worth $402,000 after purchasing an additional 93,890 shares during the last quarter. Geode Capital Management LLC raised its holdings in ADC Therapeutics by 15.6% during the third quarter. Geode Capital Management LLC now owns 953,171 shares of the company’s stock worth $3,002,000 after purchasing an additional 128,454 shares during the last quarter. Finally, XTX Topco Ltd raised its holdings in shares of ADC Therapeutics by 102.4% in the third quarter. XTX Topco Ltd now owns 115,073 shares of the company’s stock worth $362,000 after acquiring an additional 58,210 shares during the last quarter. 41.10% of the stock is currently owned by hedge funds and other institutional investors.

ADC Therapeutics Trading Up 8.4 %

ADCT stock opened at $1.61 on Friday. The stock has a 50-day moving average price of $1.92 and a two-hundred day moving average price of $2.53. ADC Therapeutics SA has a 12-month low of $1.39 and a 12-month high of $6.04. The company has a market cap of $155.19 million, a PE ratio of -0.67 and a beta of 1.54.

Insider Activity

In related news, major shareholder Redmile Group, Llc bought 100,000 shares of the stock in a transaction dated Wednesday, December 11th. The stock was acquired at an average price of $3.04 per share, for a total transaction of $304,000.00. Following the completion of the purchase, the insider now owns 13,145,712 shares in the company, valued at $39,962,964.48. This represents a 0.77 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

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

ADC Therapeutics 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.