26,657 Shares in ADC Therapeutics SA (NYSE:ADCT) Bought by SG Americas Securities LLC

SG Americas Securities LLC bought a new position in shares of ADC Therapeutics SA (NYSE:ADCT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 26,657 shares of the company’s stock, valued at approximately $84,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC bought a new stake in shares of ADC Therapeutics during the 2nd quarter valued at about $33,000. Acadian Asset Management LLC purchased a new stake in ADC Therapeutics in the second quarter valued at approximately $51,000. The Manufacturers Life Insurance Company purchased a new stake in ADC Therapeutics in the second quarter valued at approximately $85,000. XTX Topco Ltd lifted its position in ADC Therapeutics by 129.0% during the second quarter. XTX Topco Ltd now owns 56,863 shares of the company’s stock valued at $180,000 after purchasing an additional 32,034 shares during the last quarter. Finally, Rhumbline Advisers purchased a new position in ADC Therapeutics in the 2nd quarter worth approximately $272,000. 41.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ADCT has been the topic of several research reports. Royal Bank of Canada restated an “outperform” rating and set a $8.00 price objective on shares of ADC Therapeutics in a research report on Wednesday, August 7th. HC Wainwright restated a “buy” rating and set a $8.00 price target on shares of ADC Therapeutics in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $9.00.

ADC Therapeutics Stock Performance

ADCT stock opened at $3.06 on Tuesday. The company has a market capitalization of $253.30 million, a PE ratio of -1.11 and a beta of 1.58. ADC Therapeutics SA has a one year low of $0.36 and a one year high of $6.04. The company’s 50 day moving average price is $3.02 and its two-hundred day moving average price is $3.40.

ADC Therapeutics (NYSE:ADCT) last released its earnings results on Tuesday, August 6th. The company reported ($0.38) EPS for the quarter, beating the consensus estimate 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 period in the prior year, the business posted ($0.58) EPS. On average, research analysts predict that ADC Therapeutics SA will post -1.69 EPS for the current year.

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.