Woodline Partners LP Takes Position in ADC Therapeutics SA (NYSE:ADCT)

Woodline Partners LP purchased a new position in shares of ADC Therapeutics SA (NYSE:ADCT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,933,751 shares of the company's stock, valued at approximately $3,848,000. Woodline Partners LP owned approximately 2.00% of ADC Therapeutics at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Squarepoint Ops LLC grew its holdings in ADC Therapeutics by 42.2% during the fourth quarter. Squarepoint Ops LLC now owns 107,231 shares of the company's stock worth $213,000 after buying an additional 31,839 shares in the last quarter. Two Sigma Advisers LP grew its stake in ADC Therapeutics by 122.9% in the 4th quarter. Two Sigma Advisers LP now owns 65,267 shares of the company's stock valued at $130,000 after purchasing an additional 35,991 shares during the period. ProShare Advisors LLC grew its stake in ADC Therapeutics by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 22,901 shares of the company's stock valued at $46,000 after purchasing an additional 7,535 shares during the period. Nuveen Asset Management LLC grew its stake in ADC Therapeutics by 17.8% in the 4th quarter. Nuveen Asset Management LLC now owns 152,047 shares of the company's stock valued at $303,000 after purchasing an additional 22,989 shares during the period. Finally, Orbimed Advisors LLC grew its stake in ADC Therapeutics by 31.6% in the 4th quarter. Orbimed Advisors LLC now owns 5,968,451 shares of the company's stock valued at $11,877,000 after purchasing an additional 1,434,650 shares during the period. Institutional investors own 41.10% of the company's stock.

ADC Therapeutics Price Performance

Shares of NYSE ADCT traded down $0.03 during trading on Friday, reaching $2.75. 165,601 shares of the stock traded hands, compared to its average volume of 610,762. ADC Therapeutics SA has a 52-week low of $1.05 and a 52-week high of $4.13. The company has a 50-day moving average of $1.53 and a 200-day moving average of $1.78. The stock has a market capitalization of $272.24 million, a P/E ratio of -1.15 and a beta of 1.54.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.36) EPS for the quarter, beating analysts' consensus estimates of ($0.38) by $0.02. The firm had revenue of $23.03 million for the quarter, compared to analysts' expectations of $17.71 million. Analysts expect that ADC Therapeutics SA will post -1.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on ADCT. Guggenheim reduced their price objective on ADC Therapeutics from $10.00 to $7.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Royal Bank of Canada restated an "outperform" rating and issued a $8.00 price objective on shares of ADC Therapeutics in a research note on Thursday, May 15th. HC Wainwright restated a "buy" rating and issued a $8.00 price objective on shares of ADC Therapeutics in a research note on Monday, March 31st. Stephens upped 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 note on Friday, March 7th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average 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.