Heights Capital Management Inc. Has $1.31 Million Position in ADC Therapeutics SA $ADCT

Heights Capital Management Inc. lessened its holdings in ADC Therapeutics SA (NYSE:ADCT) by 88.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 326,766 shares of the company’s stock after selling 2,506,095 shares during the period. Heights Capital Management Inc. owned 0.26% of ADC Therapeutics worth $1,307,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in ADC Therapeutics during the third quarter worth $59,000. Russell Investments Group Ltd. raised its position in shares of ADC Therapeutics by 31.1% in the third quarter. Russell Investments Group Ltd. now owns 32,502 shares of the company’s stock valued at $130,000 after purchasing an additional 7,701 shares during the period. Creative Planning bought a new position in shares of ADC Therapeutics in the second quarter valued at about $96,000. Two Sigma Investments LP acquired a new stake in shares of ADC Therapeutics during the 3rd quarter worth about $182,000. Finally, Voleon Capital Management LP acquired a new stake in shares of ADC Therapeutics during the 3rd quarter worth about $281,000. Institutional investors and hedge funds own 41.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ADCT shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $5.00 price target on shares of ADC Therapeutics in a research note on Wednesday, December 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of ADC Therapeutics in a research report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $7.33.

ADC Therapeutics Price Performance

ADCT stock opened at $4.11 on Wednesday. ADC Therapeutics SA has a fifty-two week low of $1.05 and a fifty-two week high of $4.98. The stock has a market capitalization of $521.50 million, a price-to-earnings ratio of -3.42 and a beta of 1.92. The business’s fifty day moving average price is $3.97 and its two-hundred day moving average price is $3.91.

ADC Therapeutics (NYSE:ADCT) last announced its earnings results on Tuesday, March 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.28. The business had revenue of $23.06 million during the quarter, compared to the consensus estimate of $22.29 million. Research analysts expect that ADC Therapeutics SA will post -1.69 EPS for the current year.

ADC Therapeutics Company Profile

ADC Therapeutics SA is a clinical-stage biopharmaceutical company focused on the discovery and development of highly targeted antibody-drug conjugates (ADCs) designed to treat hematological malignancies such as non-Hodgkin lymphoma and acute myeloid leukemia. By marrying the specificity of monoclonal antibodies with potent cytotoxic payloads, the company aims to maximize tumor cell eradication while limiting off-target toxicity.

At the core of ADC Therapeutics’ portfolio is loncastuximab tesirine-lpyl, a CD19-directed ADC that received accelerated approval from the U.S.