XTX Topco Ltd Acquires 58,210 Shares of ADC Therapeutics SA (NYSE:ADCT)

XTX Topco Ltd boosted its stake in ADC Therapeutics SA (NYSE:ADCT) by 102.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 115,073 shares of the company’s stock after buying an additional 58,210 shares during the period. XTX Topco Ltd’s holdings in ADC Therapeutics were worth $362,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new position in shares of ADC Therapeutics in the second quarter worth $33,000. Intech Investment Management LLC purchased a new stake in ADC Therapeutics in the third quarter worth about $41,000. Acadian Asset Management LLC purchased a new position in ADC Therapeutics during the second quarter valued at approximately $51,000. Readystate Asset Management LP purchased a new position in shares of ADC Therapeutics during the 3rd quarter valued at $54,000. Finally, SG Americas Securities LLC bought a new position in shares of ADC Therapeutics in the third quarter worth about $84,000. 41.10% of the stock is currently owned by institutional investors.

ADC Therapeutics Stock Up 5.8 %

ADCT opened at $2.00 on Tuesday. The stock’s fifty day moving average is $2.67 and its two-hundred day moving average is $2.97. The company has a market capitalization of $193.38 million, a P/E ratio of -0.84 and a beta of 1.52. ADC Therapeutics SA has a 52 week low of $1.18 and a 52 week high of $6.04.

ADC Therapeutics (NYSE:ADCT) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.06). The firm had revenue of $18.46 million during the quarter, compared to analyst estimates of $18.76 million. During the same quarter last year, the firm earned ($0.58) earnings per share. Equities analysts anticipate that ADC Therapeutics SA will post -1.67 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ADCT shares. Stephens started coverage on ADC Therapeutics in a research note on Friday, November 8th. They issued an “overweight” rating and a $6.00 price objective on the stock. HC Wainwright restated a “buy” rating on shares of ADC Therapeutics in a report on Wednesday, December 11th. Finally, Guggenheim reiterated a “buy” rating and set a $10.00 target price on shares of ADC Therapeutics in a research report on Thursday, December 12th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, ADC Therapeutics currently has an average rating of “Buy” and an average price target of $8.00.

Insider Buying and Selling at ADC Therapeutics

In related news, major shareholder Redmile Group, Llc bought 100,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was bought at an average price of $3.04 per share, for a total transaction of $304,000.00. Following the completion of the acquisition, the insider now directly owns 13,145,712 shares in the company, valued at approximately $39,962,964.48. This represents a 0.77 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 4.10% of the company’s stock.

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.