ADC Therapeutics SA (NYSE:ADCT) Shares Bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. raised its position in ADC Therapeutics SA (NYSE:ADCT) by 7.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 70,636 shares of the company’s stock after acquiring an additional 4,700 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in ADC Therapeutics were worth $317,000 as of its most recent filing with the SEC.

Separately, Saxony Capital Management LLC acquired a new position in shares of ADC Therapeutics during the 4th quarter worth $34,000. Institutional investors own 41.10% of the company’s stock.

Insider Buying and Selling at ADC Therapeutics

In other ADC Therapeutics news, CEO Ameet Mallik sold 29,731 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $4.48, for a total value of $133,194.88. Following the transaction, the chief executive officer now directly owns 1,167,348 shares in the company, valued at approximately $5,229,719.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder Redmile Group, Llc acquired 400,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was bought at an average price of $2.81 per share, with a total value of $1,124,000.00. Following the purchase, the insider now directly owns 12,995,040 shares in the company, valued at approximately $36,516,062.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ameet Mallik sold 29,731 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $4.48, for a total transaction of $133,194.88. Following the transaction, the chief executive officer now directly owns 1,167,348 shares of the company’s stock, valued at approximately $5,229,719.04. The disclosure for this sale can be found here. 4.05% of the stock is owned by insiders.

ADC Therapeutics Stock Down 12.1 %

ADC Therapeutics stock opened at $3.06 on Friday. The firm has a market capitalization of $253.31 million, a PE ratio of -1.11 and a beta of 1.59. The firm’s 50-day simple moving average is $3.63 and its 200 day simple moving average is $3.63. ADC Therapeutics SA has a 52 week low of $0.36 and a 52 week high of $6.04.

ADC Therapeutics (NYSE:ADCT) last released its earnings results on Monday, May 6th. The company reported ($0.56) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.56). The firm had revenue of $18.05 million during the quarter, compared to analysts’ expectations of $18.19 million. During the same quarter last year, the company posted ($0.74) earnings per share. On average, research analysts expect that ADC Therapeutics SA will post -1.92 EPS for the current fiscal year.

Analyst Ratings Changes

ADCT has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $8.00 price target on shares of ADC Therapeutics in a research note on Thursday, March 14th. Guggenheim reiterated a “buy” rating on shares of ADC Therapeutics in a research report on Friday, April 5th. Cantor Fitzgerald started coverage on shares of ADC Therapeutics in a research report on Thursday, May 30th. They issued an “overweight” rating on the stock. Finally, HC Wainwright decreased their price objective on shares of ADC Therapeutics from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.25.

ADC Therapeutics 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.