ADC Therapeutics SA (NYSE:ADCT) Stock Holdings Increased by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. grew its stake in shares of ADC Therapeutics SA (NYSE:ADCT) by 9.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,000 shares of the company’s stock after purchasing an additional 10,000 shares during the quarter. Sanibel Captiva Trust Company Inc. owned approximately 0.14% of ADC Therapeutics worth $357,000 as of its most recent SEC filing.

Separately, Hennion & Walsh Asset Management Inc. lifted its position in shares of ADC Therapeutics by 7.1% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 70,636 shares of the company’s stock valued at $317,000 after acquiring an additional 4,700 shares during the last quarter. Institutional investors and hedge funds own 41.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $8.00 price objective on shares of ADC Therapeutics in a research report on Wednesday, August 7th. Cantor Fitzgerald started coverage on shares of ADC Therapeutics in a research report on Thursday, May 30th. They issued an “overweight” rating for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $8.00 price target on shares of ADC Therapeutics in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $9.00.

Insider Transactions at ADC Therapeutics

In related news, major shareholder Redmile Group, Llc bought 400,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was acquired at an average price of $2.81 per share, for a total transaction of $1,124,000.00. Following the transaction, the insider now directly owns 12,995,040 shares of the company’s stock, valued at $36,516,062.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.05% of the stock is owned by insiders.

ADC Therapeutics Price Performance

Shares of NYSE ADCT traded up $0.07 during trading hours on Wednesday, hitting $2.92. 102,013 shares of the company’s stock were exchanged, compared to its average volume of 726,429. ADC Therapeutics SA has a 1-year low of $0.36 and a 1-year high of $6.04. The stock has a market capitalization of $241.71 million, a price-to-earnings ratio of -1.04 and a beta of 1.59. The company’s 50-day moving average price is $3.16 and its 200-day moving average price is $3.94.

ADC Therapeutics (NYSE:ADCT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.06. The firm had revenue of $17.41 million for the quarter, compared to analyst estimates of $19.06 million. During the same period in the previous year, the business posted ($0.58) EPS. On average, research analysts expect that ADC Therapeutics SA will post -1.92 earnings per share for the current year.

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.