ADC Therapeutics SA (NYSE:ADCT) Shares Purchased by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. boosted its holdings in ADC Therapeutics SA (NYSE:ADCT) by 11.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,612,556 shares of the company’s stock after buying an additional 168,040 shares during the quarter. Platinum Investment Management Ltd. owned 1.67% of ADC Therapeutics worth $3,209,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Intech Investment Management LLC grew its position in ADC Therapeutics by 195.7% in the fourth quarter. Intech Investment Management LLC now owns 38,435 shares of the company’s stock worth $76,000 after buying an additional 25,437 shares during the last quarter. Bank of New York Mellon Corp grew its position in ADC Therapeutics by 6.0% during the 4th quarter. Bank of New York Mellon Corp now owns 171,993 shares of the company’s stock worth $342,000 after purchasing an additional 9,750 shares in the last quarter. Rhumbline Advisers grew its position in ADC Therapeutics by 15.6% during the 4th quarter. Rhumbline Advisers now owns 110,037 shares of the company’s stock worth $219,000 after purchasing an additional 14,848 shares in the last quarter. SG Americas Securities LLC grew its position in ADC Therapeutics by 35.6% during the 4th quarter. SG Americas Securities LLC now owns 36,140 shares of the company’s stock worth $72,000 after purchasing an additional 9,483 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in ADC Therapeutics by 164.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 78,813 shares of the company’s stock worth $248,000 after purchasing an additional 48,976 shares in the last quarter. Institutional investors and hedge funds own 41.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on ADCT shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of ADC Therapeutics in a research report on Friday, March 7th. HC Wainwright reiterated a “buy” rating and set a $8.00 price objective on shares of ADC Therapeutics in a research report on Monday, January 6th. Stephens lifted their price objective on shares of ADC Therapeutics from $6.00 to $8.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Finally, Guggenheim reiterated a “buy” rating and set a $10.00 price objective on shares of ADC Therapeutics in a research report on Thursday, December 12th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, ADC Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $8.50.

ADC Therapeutics Stock Down 1.4 %

Shares of NYSE:ADCT opened at $1.77 on Wednesday. The firm has a fifty day moving average of $1.70 and a two-hundred day moving average of $2.32. The firm has a market capitalization of $170.66 million, a P/E ratio of -0.74 and a beta of 1.51. ADC Therapeutics SA has a 12-month low of $1.39 and a 12-month high of $5.38.

ADC Therapeutics Company 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.