Invesco Ltd. Raises Holdings in ADC Therapeutics SA $ADCT

Key Points

• Invesco Ltd. increased its ownership of ADC Therapeutics SA by 286.1% in Q1, acquiring an additional 98,335 shares to hold a total of 132,704 shares valued at approximately $187,000.
• ADC Therapeutics' share price is currently at $3.51 after a 0.8% decline, with a market cap of about $395.21 million and a price-to-earnings ratio of -2.24.
• Research analysts maintain a consensus rating of "Buy" for ADC Therapeutics, with a range of price targets, including a high of $10.00 and a recent downgrade to $5.00.

Invesco Ltd. grew its stake in ADC Therapeutics SA (NYSE:ADCT - Free Report) by 286.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 132,704 shares of the company's stock after acquiring an additional 98,335 shares during the quarter. Invesco Ltd. owned about 0.13% of ADC Therapeutics worth $187,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ADCT. Wells Fargo & Company MN increased its holdings in shares of ADC Therapeutics by 39.4% in the 4th 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 period. Barclays PLC increased its holdings in shares of ADC Therapeutics by 10.8% in the 4th quarter. Barclays PLC now owns 141,495 shares of the company's stock valued at $282,000 after acquiring an additional 13,756 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of ADC Therapeutics in the 4th quarter valued at $1,426,000. Deutsche Bank AG grew its stake in ADC Therapeutics by 40.7% during the 4th quarter. Deutsche Bank AG now owns 56,062 shares of the company's stock worth $112,000 after buying an additional 16,217 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in ADC Therapeutics by 21.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,520 shares of the company's stock worth $93,000 after buying an additional 8,246 shares during the last quarter. 41.10% of the stock is currently owned by hedge funds and other institutional investors.

ADC Therapeutics Stock Down 0.2%

Shares of ADCT stock traded down $0.01 on Friday, hitting $3.33. The company had a trading volume of 162,818 shares, compared to its average volume of 591,327. The firm has a market cap of $374.06 million, a P/E ratio of -2.12 and a beta of 2.00. The company has a 50-day moving average price of $3.08 and a 200-day moving average price of $2.37. ADC Therapeutics SA has a twelve month low of $1.05 and a twelve month high of $3.97.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.14). The firm had revenue of $18.84 million during the quarter, compared to analyst estimates of $17.82 million. Equities research analysts expect that ADC Therapeutics SA will post -1.69 EPS for the current year.

Wall Street Analysts Forecast Growth

ADCT has been the topic of several research analyst reports. Guggenheim restated a "buy" rating and set a $10.00 target price on shares of ADC Therapeutics in a research note on Wednesday, August 13th. Wall Street Zen downgraded ADC Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, Royal Bank Of Canada upgraded ADC Therapeutics from an "outperform" rating to a "moderate buy" rating and dropped their target price for the stock from $8.00 to $5.00 in a research note on Friday, June 20th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, ADC Therapeutics has an average rating of "Buy" and a consensus 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.