700,000 Shares in ADC Therapeutics SA $ADCT Bought by Opaleye Management Inc.

Opaleye Management Inc. purchased a new stake in ADC Therapeutics SA (NYSE:ADCT) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 700,000 shares of the company’s stock, valued at approximately $749,000. Opaleye Management Inc. owned approximately 0.55% of ADC Therapeutics as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. R Squared Ltd acquired a new stake in ADC Therapeutics in the first quarter worth about $38,000. Engineers Gate Manager LP purchased a new position in shares of ADC Therapeutics in the fourth quarter worth about $43,000. Quantinno Capital Management LP raised its stake in shares of ADC Therapeutics by 36.0% in the first quarter. Quantinno Capital Management LP now owns 14,719 shares of the company’s stock worth $55,000 after purchasing an additional 3,894 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of ADC Therapeutics by 27.0% during the fourth quarter. ProShare Advisors LLC now owns 15,727 shares of the company’s stock worth $56,000 after purchasing an additional 3,339 shares during the period. Finally, AXQ Capital LP purchased a new stake in ADC Therapeutics in the fourth quarter valued at approximately $57,000. Institutional investors and hedge funds own 41.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of ADC Therapeutics in a report on Friday, July 17th. Cantor Fitzgerald restated an “overweight” rating on shares of ADC Therapeutics in a research note on Thursday, June 4th. Stephens reaffirmed an “overweight” rating and issued a $5.00 price objective on shares of ADC Therapeutics in a report on Thursday, June 4th. HC Wainwright lowered shares of ADC Therapeutics from a “buy” rating to a “neutral” rating in a research note on Monday, June 8th. Finally, Guggenheim reduced their target price on shares of ADC Therapeutics to $5.00 and set a “buy” rating for the company in a report on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.00.

ADC Therapeutics Price Performance

Shares of NYSE:ADCT opened at $1.10 on Friday. ADC Therapeutics SA has a 1 year low of $0.78 and a 1 year high of $4.98. The firm has a market capitalization of $141.08 million, a price-to-earnings ratio of -1.67 and a beta of 1.84. The business’s 50 day moving average price is $1.17 and its 200-day moving average price is $2.50.

ADC Therapeutics (NYSE:ADCT) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.11. The company had revenue of $19.25 million during the quarter, compared to analysts’ expectations of $18.89 million. On average, sell-side analysts expect that ADC Therapeutics SA will post -0.8 earnings per share for the current year.

About ADC Therapeutics

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.