Nuveen LLC Takes $214,000 Position in ADC Therapeutics SA $ADCT

Key Points

• Nuveen LLC has acquired a new position in ADC Therapeutics SA worth approximately $214,000, owning 0.15% of the company after purchasing 152,047 shares in the first quarter.
• ADC Therapeutics has received mixed ratings from analysts, with a consensus rating of "Buy" and a consensus price target of $7.75, despite a recent downgrading by Wall Street Zen to a "sell" rating.
• The company reported a revenue of $18.84 million in its latest earnings, but missed earnings estimates, reporting a loss of $0.50 EPS, compared to expectations of a loss of $0.36 EPS.

Nuveen LLC bought a new position in ADC Therapeutics SA (NYSE:ADCT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 152,047 shares of the company's stock, valued at approximately $214,000. Nuveen LLC owned 0.15% of ADC Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. raised its stake in ADC Therapeutics by 286.1% during the first quarter. Invesco Ltd. now owns 132,704 shares of the company's stock worth $187,000 after acquiring an additional 98,335 shares in the last quarter. Atria Wealth Solutions Inc. bought a new position in ADC Therapeutics in the first quarter valued at about $28,000. Cerity Partners LLC bought a new position in ADC Therapeutics in the first quarter valued at about $25,000. Wellington Management Group LLP boosted its holdings in ADC Therapeutics by 50.3% in the fourth quarter. Wellington Management Group LLP now owns 253,342 shares of the company's stock valued at $504,000 after acquiring an additional 84,785 shares during the last quarter. Finally, Woodline Partners LP bought a new position in ADC Therapeutics in the fourth quarter valued at about $3,848,000. 41.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ADCT has been the topic of a number of recent analyst reports. Guggenheim restated a "buy" rating and set a $10.00 target price on shares of ADC Therapeutics in a report on Wednesday, August 13th. Royal Bank Of Canada raised ADC Therapeutics from an "outperform" rating to a "moderate buy" rating and lowered their price target for the stock from $8.00 to $5.00 in a research report on Friday, June 20th. Finally, Wall Street Zen lowered ADC Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $7.75.

ADC Therapeutics Price Performance

NYSE ADCT opened at $3.53 on Friday. The business has a 50 day simple moving average of $3.03 and a 200 day simple moving average of $2.33. ADC Therapeutics SA has a one year low of $1.05 and a one year high of $3.97. The stock has a market capitalization of $397.13 million, a P/E ratio of -2.25 and a beta of 2.00.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.14). The company had revenue of $18.84 million during the quarter, compared to analyst estimates of $17.82 million. Equities 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.

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