Insider Selling: ADC Therapeutics (NYSE:ADCT) Major Shareholder Sells 169,265 Shares of Stock

ADC Therapeutics SA (NYSE:ADCT) major shareholder Redmile Group, Llc sold 169,265 shares of ADC Therapeutics stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $3.80, for a total value of $643,207.00. Following the transaction, the insider owned 15,301,237 shares of the company’s stock, valued at $58,144,700.60. The trade was a 1.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Redmile Group, Llc also recently made the following trade(s):

• On Thursday, April 2nd, Redmile Group, Llc sold 2,634,506 shares of ADC Therapeutics stock. The shares were sold at an average price of $3.28, for a total value of $8,641,179.68.
• On Thursday, April 2nd, Redmile Group, Llc sold 2,529,491 shares of ADC Therapeutics stock. The stock was sold at an average price of $3.28, for a total value of $8,296,730.48.
• On Wednesday, April 1st, Redmile Group, Llc sold 162,517 shares of ADC Therapeutics stock. The shares were sold at an average price of $3.80, for a total value of $617,564.60.
• On Tuesday, March 31st, Redmile Group, Llc sold 196,229 shares of ADC Therapeutics stock. The shares were sold at an average price of $3.75, for a total value of $735,858.75.
• On Tuesday, March 31st, Redmile Group, Llc sold 188,407 shares of ADC Therapeutics stock. The stock was sold at an average price of $3.75, for a total transaction of $706,526.25.

ADC Therapeutics Trading Up 0.1%

Shares of NYSE:ADCT traded up $0.01 on Thursday, hitting $3.81. The company had a trading volume of 1,355,030 shares, compared to its average volume of 874,276. The stock has a market cap of $483.39 million, a price-to-earnings ratio of -3.17 and a beta of 1.94. The stock has a 50 day moving average price of $4.02 and a 200 day moving average price of $3.95. ADC Therapeutics SA has a 1-year low of $1.05 and a 1-year high of $4.98.

ADC Therapeutics (NYSE:ADCT) last posted its earnings results on Saturday, February 14th. The company reported ($0.09) earnings per share (EPS) for the quarter. The firm had revenue of $23.06 million for the quarter. Sell-side analysts anticipate that ADC Therapeutics SA will post -1.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ADCT shares. HC Wainwright raised their price objective on shares of ADC Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Monday, March 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $5.00 target price on shares of ADC Therapeutics in a research report on Wednesday, December 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ADC Therapeutics in a report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $7.67.

Institutional Trading of ADC Therapeutics

Institutional investors have recently bought and sold shares of the business. Engineers Gate Manager LP acquired a new stake in ADC Therapeutics during the fourth quarter worth approximately $43,000. AQR Capital Management LLC raised its holdings in ADC Therapeutics by 42.2% in the 4th quarter. AQR Capital Management LLC now owns 206,576 shares of the company’s stock valued at $729,000 after acquiring an additional 61,324 shares in the last quarter. Cantor Fitzgerald L. P. acquired a new position in ADC Therapeutics in the 4th quarter valued at $353,000. Jump Financial LLC lifted its position in shares of ADC Therapeutics by 1,299.8% during the 4th quarter. Jump Financial LLC now owns 162,250 shares of the company’s stock valued at $573,000 after acquiring an additional 150,659 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of ADC Therapeutics by 25.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 46,750 shares of the company’s stock valued at $166,000 after acquiring an additional 9,537 shares during the period. Institutional investors own 41.10% of the company’s stock.

ADC Therapeutics Company Profile

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.