Insider Selling: ADC Therapeutics SA (NYSE:ADCT) CEO Sells 29,731 Shares of Stock

ADC Therapeutics SA (NYSE:ADCT) CEO Ameet Mallik sold 29,731 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $4.48, for a total value of $133,194.88. Following the completion of the transaction, the chief executive officer now directly owns 1,167,348 shares in the company, valued at approximately $5,229,719.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

ADC Therapeutics Price Performance

NYSE:ADCT traded up $0.16 during trading hours on Thursday, reaching $4.57. 329,582 shares of the company were exchanged, compared to its average volume of 740,245. The company has a market capitalization of $378.44 million, a P/E ratio of -1.56 and a beta of 1.69. ADC Therapeutics SA has a 1-year low of $0.36 and a 1-year high of $6.04. The business has a 50 day moving average of $4.57 and a 200 day moving average of $2.91.

ADC Therapeutics (NYSE:ADCT) last issued its earnings results on Monday, May 6th. The company reported ($0.56) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.56). The firm had revenue of $18.05 million for the quarter, compared to the consensus estimate of $18.19 million. ADC Therapeutics had a negative return on equity of 1,313.37% and a negative net margin of 344.15%. During the same quarter last year, the business posted ($0.74) EPS. As a group, equities research analysts anticipate that ADC Therapeutics SA will post -2.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ADC Therapeutics

Large investors have recently modified their holdings of the business. Saxony Capital Management LLC acquired a new stake in shares of ADC Therapeutics in the 4th quarter valued at $34,000. Acadian Asset Management LLC boosted its holdings in shares of ADC Therapeutics by 613.8% in the 3rd quarter. Acadian Asset Management LLC now owns 156,048 shares of the company’s stock valued at $138,000 after purchasing an additional 134,186 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of ADC Therapeutics by 7.1% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 70,636 shares of the company’s stock valued at $317,000 after purchasing an additional 4,700 shares in the last quarter. Affinity Asset Advisors LLC boosted its holdings in shares of ADC Therapeutics by 83.3% in the 3rd quarter. Affinity Asset Advisors LLC now owns 1,100,000 shares of the company’s stock valued at $987,000 after purchasing an additional 500,000 shares in the last quarter. Finally, Redmile Group LLC lifted its stake in shares of ADC Therapeutics by 0.9% in the 3rd quarter. Redmile Group LLC now owns 14,178,045 shares of the company’s stock valued at $12,718,000 after acquiring an additional 128,110 shares during the last quarter. Institutional investors and hedge funds own 41.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ADCT shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $8.00 target price on shares of ADC Therapeutics in a research report on Thursday, March 14th. HC Wainwright decreased their target price on ADC Therapeutics from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Guggenheim reaffirmed a “buy” rating on shares of ADC Therapeutics in a research report on Friday, April 5th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, ADC Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $7.25.

About ADC Therapeutics

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.