AIGH Capital Management LLC Acquires New Shares in ADC Therapeutics SA $ADCT

AIGH Capital Management LLC purchased a new stake in ADC Therapeutics SA (NYSE:ADCT - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,324,327 shares of the company's stock, valued at approximately $5,276,000. AIGH Capital Management LLC owned 3.39% of ADC Therapeutics at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Opaleye Management Inc. acquired a new position in ADC Therapeutics in the 2nd quarter valued at $749,000. Renaissance Technologies LLC acquired a new position in shares of ADC Therapeutics in the first quarter valued at about $1,122,000. Lazard Asset Management LLC bought a new position in ADC Therapeutics during the first quarter worth about $985,000. Revolve Wealth Partners LLC bought a new position in ADC Therapeutics during the second quarter worth about $107,000. Finally, Walleye Capital LLC bought a new position in ADC Therapeutics during the first quarter worth about $290,000. Institutional investors and hedge funds own 41.10% of the company's stock.

ADC Therapeutics Trading Down 4.9%

Shares of NYSE ADCT opened at $1.64 on Friday. The company has a market cap of $208.74 million, a price-to-earnings ratio of -2.48 and a beta of 1.82. ADC Therapeutics SA has a 12 month low of $0.78 and a 12 month high of $4.98. The stock has a 50-day moving average price of $1.35 and a two-hundred day moving average price of $2.44.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.22) by $0.11. The company had revenue of $19.25 million for the quarter, compared to analyst estimates of $18.89 million. On average, sell-side analysts predict that ADC Therapeutics SA will post -0.80 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ADCT shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of ADC Therapeutics in a research note on Thursday, October 15th. Guggenheim lowered their price objective on ADC Therapeutics to $5.00 and set a "buy" rating on the stock in a research note on Monday, August 17th. Finally, Wall Street Zen raised ADC Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $5.00.

About ADC Therapeutics

ADC Therapeutics SA NYSE: ADCT is a biotechnology company focused on developing and commercializing antibody-drug conjugates (ADCs) for the treatment of cancer. Its ADC platform is designed to combine monoclonal antibodies that target specific tumor-associated antigens with potent cytotoxic payloads, with the goal of selectively delivering treatment to cancer cells while limiting exposure to healthy tissue.

The company's lead product is Zynlonta (loncastuximab tesirine-lpyl), an ADC directed against the CD19 antigen.

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