Bioimpact Capital LLC Lowers Stake in ADC Therapeutics SA (NYSE:ADCT)

Bioimpact Capital LLC reduced its stake in shares of ADC Therapeutics SA (NYSE:ADCTGet Rating) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 337,396 shares of the company’s stock after selling 7,123 shares during the quarter. ADC Therapeutics makes up approximately 1.2% of Bioimpact Capital LLC’s investment portfolio, making the stock its 21st largest position. Bioimpact Capital LLC owned approximately 0.49% of ADC Therapeutics worth $6,815,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of ADCT. Allianz Asset Management GmbH raised its holdings in shares of ADC Therapeutics by 20.5% in the fourth quarter. Allianz Asset Management GmbH now owns 58,030 shares of the company’s stock valued at $1,177,000 after acquiring an additional 9,860 shares in the last quarter. Pictet Asset Management SA raised its holdings in shares of ADC Therapeutics by 17.0% in the fourth quarter. Pictet Asset Management SA now owns 1,300,803 shares of the company’s stock valued at $26,276,000 after acquiring an additional 188,902 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of ADC Therapeutics by 3.9% in the fourth quarter. Principal Financial Group Inc. now owns 303,234 shares of the company’s stock valued at $6,126,000 after acquiring an additional 11,429 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of ADC Therapeutics in the fourth quarter valued at about $37,000. Finally, Bank of America Corp DE raised its holdings in shares of ADC Therapeutics by 1,121.9% in the fourth quarter. Bank of America Corp DE now owns 100,877 shares of the company’s stock valued at $2,038,000 after acquiring an additional 92,621 shares in the last quarter. 49.06% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of ADC Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, January 21st. HC Wainwright cut their price objective on shares of ADC Therapeutics from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, March 4th. Finally, Morgan Stanley upped their price objective on shares of ADC Therapeutics from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, April 12th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $39.17.

ADC Therapeutics stock traded down $0.38 during mid-day trading on Tuesday, hitting $6.76. The company had a trading volume of 353,465 shares, compared to its average volume of 197,843. The company has a current ratio of 6.89, a quick ratio of 6.72 and a debt-to-equity ratio of 0.68. ADC Therapeutics SA has a 12-month low of $6.57 and a 12-month high of $32.00. The company’s fifty day moving average is $12.59 and its 200-day moving average is $17.26. The company has a market capitalization of $465.70 million, a price-to-earnings ratio of -2.65 and a beta of 1.84.

ADC Therapeutics (NYSE:ADCTGet Rating) last released its quarterly earnings data on Monday, May 9th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.54. ADC Therapeutics had a negative return on equity of 102.72% and a negative net margin of 242.69%. During the same period last year, the firm posted ($0.67) EPS. As a group, sell-side analysts expect that ADC Therapeutics SA will post -3.34 EPS for the current fiscal year.

ADC Therapeutics Company Profile (Get Rating)

ADC Therapeutics SA, a commercial-stage biotechnology company, develops antibody drug conjugates (ADC) for patients suffering from hematological malignancies and solid tumors. Its flagship product ZYNLONTA that is in Phase II clinical trial for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL) and follicular lymphoma; Phase III clinical trial in combination with rituximab to treat relapsed or refractory DLBCL in second-line transplant-ineligible patients; and Phase I clinical trial for treatment of relapsed or refractory non-hodgkin lymphoma (NHL).

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Institutional Ownership by Quarter for ADC Therapeutics (NYSE:ADCT)

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