Two Sigma Securities LLC Makes New $30,000 Investment in ADC Therapeutics SA (NYSE:ADCT)

Two Sigma Securities LLC bought a new stake in ADC Therapeutics SA (NYSE:ADCT) in the 4th quarter, Holdings Channel.com reports. The fund bought 15,048 shares of the company’s stock, valued at approximately $30,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its position in ADC Therapeutics by 122.6% in the fourth quarter. Russell Investments Group Ltd. now owns 16,794 shares of the company’s stock worth $33,000 after purchasing an additional 9,248 shares during the period. SG Americas Securities LLC grew its position in shares of ADC Therapeutics by 35.6% during the 4th quarter. SG Americas Securities LLC now owns 36,140 shares of the company’s stock worth $72,000 after buying an additional 9,483 shares during the period. Bank of New York Mellon Corp raised its stake in shares of ADC Therapeutics by 6.0% during the fourth quarter. Bank of New York Mellon Corp now owns 171,993 shares of the company’s stock worth $342,000 after buying an additional 9,750 shares during the last quarter. Geode Capital Management LLC lifted its holdings in ADC Therapeutics by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 963,109 shares of the company’s stock valued at $1,917,000 after buying an additional 9,938 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in ADC Therapeutics by 39.4% in the fourth quarter. Wells Fargo & Company MN now owns 41,832 shares of the company’s stock valued at $83,000 after acquiring an additional 11,834 shares during the last quarter. Institutional investors own 41.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ADCT has been the topic of a number of analyst reports. Stephens increased their price target on ADC Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of ADC Therapeutics in a report on Monday, March 31st. Guggenheim lowered their price target on ADC Therapeutics from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of ADC Therapeutics in a report on Friday, March 7th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, ADC Therapeutics presently has an average rating of “Buy” and a consensus target price of $7.75.

ADC Therapeutics Price Performance

NYSE:ADCT opened at $1.45 on Friday. The business’s 50-day simple moving average is $1.47 and its 200-day simple moving average is $1.93. ADC Therapeutics SA has a fifty-two week low of $1.05 and a fifty-two week high of $5.17. The stock has a market capitalization of $143.31 million, a PE ratio of -0.60 and a beta of 1.55.

ADC Therapeutics (NYSE:ADCT) last announced its quarterly earnings results on Thursday, March 27th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.06. The company had revenue of $19.00 million during the quarter, compared to the consensus estimate of $19.01 million. On average, research analysts expect that ADC Therapeutics SA will post -1.69 earnings per share for the current year.

About ADC Therapeutics

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.