Orbimed Advisors LLC Grows Position in ADC Therapeutics SA (NYSE:ADCT)

Orbimed Advisors LLC boosted its holdings in shares of ADC Therapeutics SA (NYSE:ADCT - Free Report) by 31.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,968,451 shares of the company's stock after acquiring an additional 1,434,650 shares during the period. Orbimed Advisors LLC owned about 6.17% of ADC Therapeutics worth $11,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in ADCT. BNP Paribas Financial Markets acquired a new stake in ADC Therapeutics in the fourth quarter valued at approximately $1,426,000. Platinum Investment Management Ltd. lifted its holdings in shares of ADC Therapeutics by 11.6% during the 4th quarter. Platinum Investment Management Ltd. now owns 1,612,556 shares of the company's stock valued at $3,209,000 after purchasing an additional 168,040 shares during the last quarter. Barclays PLC boosted its position in shares of ADC Therapeutics by 277.4% in the 3rd quarter. Barclays PLC now owns 127,739 shares of the company's stock worth $402,000 after purchasing an additional 93,890 shares in the last quarter. Wellington Management Group LLP increased its position in ADC Therapeutics by 50.3% during the 4th quarter. Wellington Management Group LLP now owns 253,342 shares of the company's stock valued at $504,000 after buying an additional 84,785 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in ADC Therapeutics by 164.1% in the third quarter. JPMorgan Chase & Co. now owns 78,813 shares of the company's stock valued at $248,000 after buying an additional 48,976 shares during the last quarter. Hedge funds and other institutional investors own 41.10% of the company's stock.

ADC Therapeutics Trading Up 5.9%

ADCT opened at $1.35 on Tuesday. ADC Therapeutics SA has a 12-month low of $1.05 and a 12-month high of $4.43. The firm has a 50 day moving average of $1.43 and a two-hundred day moving average of $1.84. The firm has a market capitalization of $133.39 million, a PE ratio of -0.56 and a beta of 1.54.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last issued its earnings results on Thursday, March 27th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.06. The business had revenue of $19.00 million for the quarter, compared to analysts' expectations of $19.01 million. As a group, analysts predict that ADC Therapeutics SA will post -1.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Cantor Fitzgerald restated an "overweight" rating on shares of ADC Therapeutics in a report on Friday, March 7th. Guggenheim cut their price target on shares of ADC Therapeutics from $10.00 to $7.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Stephens lifted their price objective on shares of 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 issued a $8.00 target price on shares of ADC Therapeutics in a research report on Monday, March 31st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average target price 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.

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