474,744 shares in ADC Therapeutics SA (NYSE:ADCT) bought by Affinity Asset Advisors LLC

Affinity Asset Advisors LLC purchased a new position in ADC Therapeutics SA (NYSE:ADCT – Free Report) during the second quarter, HoldingsChannel reports. The institutional investor acquired 474,744 shares of the company’s stock, valued at approximately $1,500,000.

A number of other institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd boosted its position in ADC Therapeutics by 129.0% in the second quarter. XTX Topco Ltd now owns 56,863 shares of the company’s stock worth $180,000 after acquiring an additional 32,034 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of ADC Therapeutics in the second quarter valued at $51,000. Rhumbline Advisers acquired a new stake in ADC Therapeutics in the second quarter valued at about $272,000. Bank of New York Mellon Corp purchased a new position in ADC Therapeutics in the second quarter valued at about $648,000. Finally, Sanibel Captiva Trust Company Inc. boosted its position in shares of ADC Therapeutics by 9.7% in the second quarter. Sanibel Captiva Trust Company Inc. now owns 113,000 shares of the company’s stock worth $357,000 after buying an additional 10,000 shares during the period. Institutional investors own 41.10% of the company’s shares.

ADC Therapeutics trading down 1.0%

Shares of ADC Therapeutics stock opened at $3.05 on Wednesday. The stock has a 50-day simple moving average of $3.10 and a 200-day simple moving average of $3.65. ADC Therapeutics SA has a 52-week low of $0.36 and a 52-week high of $6.04.

ADC Therapeutics (NYSE:ADCT – Get Free Report ) last posted its earnings results on Tuesday, August 6th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.06. The company had revenue of $17.41 million for the quarter, compared to the consensus estimate of $19.06 million. In the same quarter last year, the company earned ($0.58) earnings per share. equities research analysts expect that ADC Therapeutics SA will post -1.69 EPS for the current fiscal year.

Analysts on Wall Street are forecasting an increase

Several equities research analysts have recently issued reports on ADCT shares. Cantor Fitzgerald began coverage on ADC Therapeutics in a research note on Thursday, May 30th. They issued an “overweight” rating for the company. Royal Bank of Canada restated an “outperform” rating and set a $8.00 target price on shares of ADC Therapeutics in a report on Wednesday, August 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $8.00 price objective on shares of ADC Therapeutics in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. ADC Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $9.00, according to MarketBeat .

See the latest stock report on ADCT

Insiders place their bets

In other ADC Therapeutics news, major shareholder Redmile Group, Llc acquired 400,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were purchased at an average price of $2.81 per share, for a total transaction of $1,124,000.00. Following the completion of the purchase, the insider now directly owns 12,995,040 shares of the company’s stock, valued at $36,516,062.40. The acquisition was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Corporate insiders own 4.05% of the company’s shares.

ADC Therapeutics Profile

(Free Report)

ADC Therapeutics SA is focused 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 ZYNLONTA, a CD19-targeted ADC, received accelerated approval from the US

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