Rhumbline Advisers Boosts Stock Position in ADC Therapeutics SA (NYSE:ADCT)

Rhumbline Advisers increased its stake in shares of ADC Therapeutics SA (NYSE:ADCT) by 15.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,037 shares of the company’s stock after purchasing an additional 14,848 shares during the quarter. Rhumbline Advisers owned approximately 0.11% of ADC Therapeutics worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Redmile Group LLC lifted its stake in shares of ADC Therapeutics by 2.6% in the 3rd quarter. Redmile Group LLC now owns 15,669,217 shares of the company’s stock valued at $49,358,000 after purchasing an additional 400,000 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of ADC Therapeutics by 164.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 78,813 shares of the company’s stock valued at $248,000 after purchasing an additional 48,976 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of ADC Therapeutics by 10.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 194,258 shares of the company’s stock valued at $612,000 after purchasing an additional 18,796 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of ADC Therapeutics by 15.6% in the 3rd 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 in the last quarter. Finally, Barclays PLC lifted its stake in shares of ADC Therapeutics by 277.4% in the 3rd quarter. Barclays PLC now owns 127,739 shares of the company’s stock valued at $402,000 after purchasing an additional 93,890 shares in the last quarter. Hedge funds and other institutional investors own 41.10% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Redmile Group, Llc purchased 100,000 shares of the stock in a transaction dated Wednesday, December 11th. The stock was acquired at an average cost of $3.04 per share, for a total transaction of $304,000.00. Following the acquisition, the insider now owns 13,145,712 shares of the company’s stock, valued at $39,962,964.48. The trade was a 0.77 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 4.10% of the stock is owned by company insiders.

ADC Therapeutics Stock Down 6.3 %

ADCT stock opened at $1.73 on Tuesday. ADC Therapeutics SA has a 52-week low of $1.39 and a 52-week high of $5.38. The stock’s 50 day moving average is $1.72 and its two-hundred day moving average is $2.37. The company has a market capitalization of $166.79 million, a PE ratio of -0.72 and a beta of 1.51.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ADCT. Stephens lifted their price objective on ADC Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Guggenheim reissued a “buy” rating and set a $10.00 price target on shares of ADC Therapeutics in a research report on Thursday, December 12th. HC Wainwright reissued a “buy” rating and set a $8.00 price target on shares of ADC Therapeutics in a research report on Monday, January 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of ADC Therapeutics in a research report on Friday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $8.50.

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.