Woodline Partners LP Invests $3.85 Million in ADC Therapeutics SA (NYSE:ADCT)

Woodline Partners LP bought a new stake in ADC Therapeutics SA (NYSE:ADCT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,933,751 shares of the company's stock, valued at approximately $3,848,000. Woodline Partners LP owned about 2.00% of ADC Therapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. ProShare Advisors LLC lifted its stake in ADC Therapeutics by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 22,901 shares of the company's stock worth $46,000 after acquiring an additional 7,535 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of ADC Therapeutics by 21.5% in the fourth 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 in the last quarter. Russell Investments Group Ltd. boosted 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 valued at $33,000 after purchasing an additional 9,248 shares during the last quarter. SG Americas Securities LLC raised its position in ADC Therapeutics by 35.6% in the 4th quarter. SG Americas Securities LLC now owns 36,140 shares of the company's stock worth $72,000 after buying an additional 9,483 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of ADC Therapeutics by 6.0% during the fourth quarter. Bank of New York Mellon Corp now owns 171,993 shares of the company's stock valued at $342,000 after purchasing an additional 9,750 shares during the last quarter. 41.10% of the stock is currently owned by institutional investors.

ADC Therapeutics Stock Performance

NYSE ADCT traded up $0.15 during mid-day trading on Wednesday, reaching $2.65. 1,139,361 shares of the stock were exchanged, compared to its average volume of 612,675. The company has a market capitalization of $262.33 million, a P/E ratio of -1.11 and a beta of 1.54. The business's 50 day moving average is $1.49 and its 200-day moving average is $1.78. ADC Therapeutics SA has a 1 year low of $1.05 and a 1 year high of $4.13.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate 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. Equities analysts predict that ADC Therapeutics SA will post -1.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADCT has been the subject of a number of recent research reports. Cantor Fitzgerald restated an "overweight" rating on shares of ADC Therapeutics in a research note on Friday, March 7th. Royal Bank of Canada reiterated an "outperform" rating and issued a $8.00 price target on shares of ADC Therapeutics in a research note on Thursday, May 15th. Guggenheim decreased their price target on ADC Therapeutics from $10.00 to $7.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Stephens upped their price objective on ADC Therapeutics from $6.00 to $8.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Finally, HC Wainwright reissued a "buy" rating and set a $8.00 target price on shares of ADC Therapeutics in a research note on Monday, March 31st. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $7.75.

ADC Therapeutics Company Profile

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.