ADC Therapeutics SA $ADCT Stock Holdings Raised by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase increased its stake in ADC Therapeutics by 865.3% in Q3, acquiring an additional 296,350 shares to hold 330,597 shares (about 0.27% of the company) worth $1.322 million.
• Major insider Redmile Group sold 2,634,506 shares on April 2 (≈$8.64M at $3.28), cutting its position by 17.22%; insiders have sold 5,880,415 shares in the last 90 days and currently own 5.4% of the stock.
• Analyst sentiment is mixed-to-positive with a consensus rating of “Moderate Buy” and a $7.67 average target price; HC Wainwright raised its target to $8 while one firm maintains a sell rating.

JPMorgan Chase & Co. grew its position in ADC Therapeutics SA (NYSE:ADCT - Free Report) by 865.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 330,597 shares of the company's stock after acquiring an additional 296,350 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.27% of ADC Therapeutics worth $1,322,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Corient Private Wealth LLC bought a new stake in shares of ADC Therapeutics in the 2nd quarter valued at approximately $959,000. TCG Crossover Management LLC bought a new stake in shares of ADC Therapeutics in the 3rd quarter valued at approximately $5,561,000. Lynx1 Capital Management LP bought a new stake in shares of ADC Therapeutics in the 3rd quarter valued at approximately $5,303,000. Millennium Management LLC increased its holdings in shares of ADC Therapeutics by 82.9% in the 3rd quarter. Millennium Management LLC now owns 701,619 shares of the company's stock valued at $2,806,000 after acquiring an additional 317,945 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of ADC Therapeutics by 6.0% in the 3rd quarter. Vanguard Group Inc. now owns 593,954 shares of the company's stock valued at $2,376,000 after acquiring an additional 33,431 shares during the last quarter. 41.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other ADC Therapeutics news, major shareholder Redmile Group, Llc sold 2,634,506 shares of the company's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $3.28, for a total value of $8,641,179.68. Following the completion of the transaction, the insider owned 12,666,731 shares in the company, valued at approximately $41,546,877.68. This represents a 17.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 5,880,415 shares of company stock valued at $19,641,067. 5.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ADCT shares. HC Wainwright boosted their price objective on shares of ADC Therapeutics from $7.00 to $8.00 and gave the company a "buy" rating in a research report on Monday, March 23rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ADC Therapeutics in a research report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $7.67.

ADC Therapeutics Price Performance

Shares of ADCT opened at $3.79 on Friday. The company has a market cap of $480.85 million, a P/E ratio of -3.15 and a beta of 1.94. The stock has a fifty day moving average price of $4.04 and a 200 day moving average price of $3.97. ADC Therapeutics SA has a 12 month low of $1.09 and a 12 month high of $4.98.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last issued its quarterly earnings data on Saturday, February 14th. The company reported ($0.09) EPS for the quarter. The company had revenue of $23.06 million during the quarter. As a group, research analysts anticipate that ADC Therapeutics SA will post -1.69 earnings per share for the current year.

ADC Therapeutics Company Profile

ADC Therapeutics SA is a clinical-stage biopharmaceutical company focused on the discovery and development of highly targeted antibody-drug conjugates (ADCs) designed to treat hematological malignancies such as non-Hodgkin lymphoma and acute myeloid leukemia. By marrying the specificity of monoclonal antibodies with potent cytotoxic payloads, the company aims to maximize tumor cell eradication while limiting off-target toxicity.

At the core of ADC Therapeutics' portfolio is loncastuximab tesirine-lpyl, a CD19-directed ADC that received accelerated approval from the U.S.

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