Prosight Management LP Has $29.89 Million Position in ADC Therapeutics SA $ADCT

Prosight Management LP reduced its position in shares of ADC Therapeutics SA (NYSE:ADCT) by 28.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,472,303 shares of the company’s stock after selling 2,995,468 shares during the period. ADC Therapeutics makes up 7.0% of Prosight Management LP’s portfolio, making the stock its 3rd biggest holding. Prosight Management LP owned about 0.06% of ADC Therapeutics worth $29,889,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Corient Private Wealth LLC purchased a new position in ADC Therapeutics during the second quarter worth about $959,000. Stempoint Capital LP purchased a new stake in shares of ADC Therapeutics in the 2nd quarter valued at about $759,000. Panagora Asset Management Inc. boosted its position in shares of ADC Therapeutics by 400.8% during the 2nd quarter. Panagora Asset Management Inc. now owns 271,359 shares of the company’s stock valued at $727,000 after acquiring an additional 217,173 shares during the last quarter. Creative Planning bought a new stake in shares of ADC Therapeutics during the 2nd quarter valued at about $96,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of ADC Therapeutics by 15.2% during the third quarter. BNP Paribas Financial Markets now owns 688,471 shares of the company’s stock worth $2,754,000 after purchasing an additional 90,679 shares in the last quarter. Institutional investors own 41.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on ADCT shares. Royal Bank Of Canada restated an “outperform” rating and issued a $5.00 price objective on shares of ADC Therapeutics in a research report on Wednesday, December 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of ADC Therapeutics in a research note on Wednesday, January 21st. Finally, Wall Street Zen raised shares of ADC Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.33.

ADC Therapeutics Trading Down 5.2%

ADCT opened at $4.13 on Friday. The stock has a 50-day moving average price of $3.95 and a 200-day moving average price of $3.89. ADC Therapeutics SA has a 12-month low of $1.05 and a 12-month high of $4.98. The stock has a market capitalization of $524.04 million, a P/E ratio of -3.44 and a beta of 1.92.

ADC Therapeutics (NYSE:ADCT) last announced its quarterly earnings data on Tuesday, March 10th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.28. The firm had revenue of $23.06 million for the quarter, compared to analysts’ expectations of $22.29 million. On average, equities research analysts predict that ADC Therapeutics SA will post -1.69 EPS for the current year.

About ADC Therapeutics

ADC Therapeutics SA is a clinical-stage biopharmaceutical company focused on the discovery and development of highly targeted antibody-drug conjugates (ADCs) designed to treat hematological malignancies such as non-Hodgkin lymphoma and acute myeloid leukemia. By marrying the specificity of monoclonal antibodies with potent cytotoxic payloads, the company aims to maximize tumor cell eradication while limiting off-target toxicity.

At the core of ADC Therapeutics’ portfolio is loncastuximab tesirine-lpyl, a CD19-directed ADC that received accelerated approval from the U.S.