BNP Paribas Financial Markets Takes Position in ADC Therapeutics SA (NYSE:ADCT)

BNP Paribas Financial Markets acquired a new stake in ADC Therapeutics SA (NYSE:ADCT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 716,668 shares of the company’s stock, valued at approximately $1,426,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Platinum Investment Management Ltd. lifted its stake in ADC Therapeutics by 11.6% in the fourth quarter. Platinum Investment Management Ltd. now owns 1,612,556 shares of the company’s stock worth $3,209,000 after acquiring an additional 168,040 shares during the period. Geode Capital Management LLC lifted its position in shares of ADC Therapeutics by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 963,109 shares of the company’s stock worth $1,917,000 after purchasing an additional 9,938 shares during the period. Wellington Management Group LLP lifted its position in shares of ADC Therapeutics by 50.3% in the 4th quarter. Wellington Management Group LLP now owns 253,342 shares of the company’s stock worth $504,000 after purchasing an additional 84,785 shares during the period. Bank of New York Mellon Corp lifted its position in shares of ADC Therapeutics by 6.0% in 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 during the period. Finally, Barclays PLC lifted its position in shares of ADC Therapeutics by 10.8% in the 4th quarter. Barclays PLC now owns 141,495 shares of the company’s stock worth $282,000 after purchasing an additional 13,756 shares during the period. 41.10% of the stock is currently owned by institutional investors.

ADC Therapeutics Stock Up 10.9%

NYSE:ADCT opened at $1.88 on Monday. ADC Therapeutics SA has a 52 week low of $1.05 and a 52 week high of $4.23. The firm has a 50 day moving average of $1.42 and a 200 day moving average of $1.81. The stock has a market capitalization of $185.96 million, a price-to-earnings ratio of -0.78 and a beta of 1.54.

ADC Therapeutics (NYSE:ADCT) last posted its earnings results on Wednesday, May 14th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.02. The firm had revenue of $23.03 million for the quarter, compared to analysts’ expectations of $17.71 million. As a group, analysts expect that ADC Therapeutics SA will post -1.69 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Stephens upped their price target 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. Guggenheim lowered their price target on shares of ADC Therapeutics from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ADC Therapeutics in a research report on Friday, March 7th. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of ADC Therapeutics in a research report on Monday, March 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $8.00 price target on shares of ADC Therapeutics in a research report on Thursday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $7.75.

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.