Saxony Capital Management LLC Purchases Shares of 20,623 ADC Therapeutics SA (NYSE:ADCT)

Saxony Capital Management LLC purchased a new stake in ADC Therapeutics SA (NYSE:ADCT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,623 shares of the company’s stock, valued at approximately $34,000.

Other institutional investors also recently modified their holdings of the company. Advisor Group Holdings Inc. increased its holdings in shares of ADC Therapeutics by 1,270.5% in the first quarter. Advisor Group Holdings Inc. now owns 3,248 shares of the company’s stock valued at $47,000 after buying an additional 3,011 shares in the last quarter. Quantbot Technologies LP acquired a new stake in ADC Therapeutics during the 2nd quarter valued at $38,000. Tower Research Capital LLC TRC raised its stake in ADC Therapeutics by 1,253.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company’s stock valued at $46,000 after purchasing an additional 8,773 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in ADC Therapeutics during the 3rd quarter valued at $56,000. Finally, Prospera Financial Services Inc acquired a new stake in ADC Therapeutics during the 1st quarter valued at $25,000. Institutional investors own 41.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ADCT. Royal Bank of Canada reissued an “outperform” rating and set a $8.00 target price on shares of ADC Therapeutics in a research note on Thursday, March 14th. Guggenheim reissued a “buy” rating on shares of ADC Therapeutics in a research note on Friday, April 5th. Finally, HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of ADC Therapeutics in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.50.

ADC Therapeutics Trading Down 6.2 %

Shares of NYSE ADCT traded down $0.29 during mid-day trading on Friday, reaching $4.39. The company had a trading volume of 337,039 shares, compared to its average volume of 475,272. ADC Therapeutics SA has a twelve month low of $0.36 and a twelve month high of $6.04. The stock’s 50 day moving average is $4.56 and its 200-day moving average is $2.42.

ADC Therapeutics (NYSE:ADCT) last posted its quarterly earnings results on Wednesday, March 13th. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.56). ADC Therapeutics had a negative return on equity of 1,313.37% and a negative net margin of 344.15%. The company had revenue of $16.79 million during the quarter, compared to analyst estimates of $16.58 million. As a group, sell-side analysts anticipate that ADC Therapeutics SA will post -2.19 earnings per share for the current fiscal year.

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.