Sei Investments Co. Invests $46,000 in ADC Therapeutics SA (NYSE:ADCT)

Sei Investments Co. acquired a new position in shares of ADC Therapeutics SA (NYSE:ADCT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 22,989 shares of the company’s stock, valued at approximately $46,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Platinum Investment Management Ltd. boosted its holdings in shares of ADC Therapeutics by 11.6% in the 4th quarter. Platinum Investment Management Ltd. now owns 1,612,556 shares of the company’s stock worth $3,209,000 after purchasing an additional 168,040 shares in the last quarter. State Street Corp lifted its position in ADC Therapeutics by 11.6% in the 3rd quarter. State Street Corp now owns 1,106,011 shares of the company’s stock worth $3,484,000 after buying an additional 114,715 shares during the last quarter. Geode Capital Management LLC boosted its stake in ADC Therapeutics by 15.6% in the third quarter. Geode Capital Management LLC now owns 953,171 shares of the company’s stock worth $3,002,000 after buying an additional 128,454 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in ADC Therapeutics by 10.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 194,258 shares of the company’s stock valued at $612,000 after acquiring an additional 18,796 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of ADC Therapeutics by 6.0% during the fourth quarter. Bank of New York Mellon Corp now owns 171,993 shares of the company’s stock worth $342,000 after acquiring an additional 9,750 shares in the last quarter. Institutional investors own 41.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ADCT shares. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of ADC Therapeutics in a research note on Monday, March 31st. Guggenheim reduced their price objective on ADC Therapeutics from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Cantor Fitzgerald restated an “overweight” rating on shares of ADC Therapeutics in a report on Friday, March 7th. Finally, Stephens lifted their price target on ADC Therapeutics from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, ADC Therapeutics currently has a consensus rating of “Buy” and an average target price of $7.75.

ADC Therapeutics Trading Up 8.5 %

ADCT stock opened at $1.22 on Friday. The firm’s 50-day moving average price is $1.55 and its two-hundred day moving average price is $2.11. The stock has a market capitalization of $120.39 million, a price-to-earnings ratio of -0.51 and a beta of 1.55. ADC Therapeutics SA has a 12-month low of $1.05 and a 12-month high of $5.17.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings data on Thursday, March 27th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.06. The business had revenue of $19.00 million during the quarter, compared to analysts’ expectations of $19.01 million. Equities analysts predict that ADC Therapeutics SA will post -1.69 EPS for the current year.

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.