BNP Paribas Financial Markets Invests $1.43 Million in ADC Therapeutics SA (NYSE:ADCT)

BNP Paribas Financial Markets acquired a new stake in ADC Therapeutics SA (NYSE:ADCT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 716,668 shares of the company's stock, valued at approximately $1,426,000. BNP Paribas Financial Markets owned about 0.74% of ADC Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ADCT. Kazazian Asset Management LLC acquired a new stake in ADC Therapeutics during the fourth quarter worth approximately $26,000. Two Sigma Securities LLC purchased a new position in shares of ADC Therapeutics in the 4th quarter valued at $30,000. Russell Investments Group Ltd. raised its stake in ADC Therapeutics by 122.6% during the 4th quarter. Russell Investments Group Ltd. now owns 16,794 shares of the company's stock worth $33,000 after acquiring an additional 9,248 shares in the last quarter. Prudential Financial Inc. acquired a new stake in ADC Therapeutics during the 4th quarter worth $35,000. Finally, Sei Investments Co. purchased a new stake in ADC Therapeutics in the fourth quarter valued at $46,000. 41.10% of the stock is currently owned by institutional investors and hedge funds.

ADC Therapeutics Trading Up 11.8%

Shares of ADCT traded up $0.23 during mid-day trading on Thursday, hitting $2.20. 984,910 shares of the company's stock were exchanged, compared to its average volume of 607,331. ADC Therapeutics SA has a fifty-two week low of $1.05 and a fifty-two week high of $4.13. The business's 50 day moving average is $1.44 and its two-hundred day moving average is $1.81. The firm has a market capitalization of $218.49 million, a P/E ratio of -0.92 and a beta of 1.54.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.36) earnings per share for the quarter, topping analysts' consensus estimates of ($0.38) by $0.02. The company had revenue of $23.03 million for the quarter, compared to analyst estimates of $17.71 million. On average, equities research analysts forecast that ADC Therapeutics SA will post -1.69 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $8.00 price objective on shares of ADC Therapeutics in a report on Thursday, May 15th. HC Wainwright restated a "buy" rating and set a $8.00 price target on shares of ADC Therapeutics in a research note on Monday, March 31st. Guggenheim cut their price target on ADC Therapeutics from $10.00 to $7.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Stephens boosted their price objective on ADC Therapeutics from $6.00 to $8.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of ADC Therapeutics in a research report on Friday, March 7th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, ADC Therapeutics has a consensus rating of "Buy" and an average price target of $7.75.

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.