Two Sigma Investments LP Has $365,000 Stock Position in ADC Therapeutics SA (NYSE:ADCT)

Two Sigma Investments LP decreased its position in ADC Therapeutics SA (NYSE:ADCT) by 25.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 183,231 shares of the company’s stock after selling 62,022 shares during the period. Two Sigma Investments LP’s holdings in ADC Therapeutics were worth $365,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kazazian Asset Management LLC acquired a new position in ADC Therapeutics in the 4th quarter worth $26,000. Two Sigma Securities LLC acquired a new position in ADC Therapeutics in the 4th quarter worth $30,000. Russell Investments Group Ltd. lifted its position in ADC Therapeutics by 122.6% during the 4th quarter. Russell Investments Group Ltd. now owns 16,794 shares of the company’s stock worth $33,000 after buying an additional 9,248 shares in the last quarter. Prudential Financial Inc. bought a new stake in ADC Therapeutics during the 4th quarter worth about $35,000. Finally, Sei Investments Co. bought a new stake in ADC Therapeutics during the 4th quarter worth about $46,000. Institutional investors and hedge funds own 41.10% of the company’s stock.

ADC Therapeutics Stock Performance

Shares of ADCT stock opened at $3.67 on Wednesday. The firm’s 50-day moving average is $1.86 and its 200-day moving average is $1.85. The stock has a market cap of $363.49 million, a price-to-earnings ratio of -1.53 and a beta of 1.96. ADC Therapeutics SA has a 52-week low of $1.05 and a 52-week high of $4.13.

ADC Therapeutics (NYSE:ADCT) last issued its earnings results on Wednesday, May 14th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.02. The firm had revenue of $23.03 million during the quarter, compared to the consensus estimate of $17.71 million. Sell-side analysts predict that ADC Therapeutics SA will post -1.69 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on ADCT. Stephens boosted 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 cut their price target on shares of ADC Therapeutics from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Cantor Fitzgerald reissued an “overweight” rating on shares of ADC Therapeutics in a research report on Friday, March 7th. HC Wainwright reissued a “buy” rating and set a $8.00 price target on shares of ADC Therapeutics in a research report on Monday, March 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $8.00 price target on shares of ADC Therapeutics in a research report on Thursday, May 15th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price 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.