Insider Selling: ADC Therapeutics SA (NYSE:ADCT) CEO Sells 29,731 Shares of Stock

ADC Therapeutics SA (NYSE:ADCT) CEO Ameet Mallik sold 29,731 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $4.48, for a total transaction of $133,194.88. Following the sale, the chief executive officer now owns 1,167,348 shares of the company’s stock, valued at $5,229,719.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

ADC Therapeutics Stock Performance

Shares of NYSE ADCT traded up $0.16 during trading on Thursday, hitting $4.57. The company had a trading volume of 329,582 shares, compared to its average volume of 740,245. The stock has a 50 day simple moving average of $4.57 and a 200 day simple moving average of $2.91. ADC Therapeutics SA has a 12 month low of $0.36 and a 12 month high of $6.04. The firm has a market capitalization of $378.44 million, a P/E ratio of -1.56 and a beta of 1.69.

ADC Therapeutics (NYSE:ADCT) last posted its quarterly earnings data on Monday, May 6th. The company reported ($0.56) EPS for the quarter, hitting the consensus estimate of ($0.56). ADC Therapeutics had a negative return on equity of 1,313.37% and a negative net margin of 344.15%. The firm had revenue of $18.05 million for the quarter, compared to the consensus estimate of $18.19 million. During the same quarter last year, the company earned ($0.74) earnings per share. As a group, analysts predict that ADC Therapeutics SA will post -2.2 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ADCT. Saxony Capital Management LLC bought a new stake in ADC Therapeutics during the 4th quarter valued at approximately $34,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of ADC Therapeutics by 7.1% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 70,636 shares of the company’s stock worth $317,000 after purchasing an additional 4,700 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of ADC Therapeutics by 613.8% in the 3rd quarter. Acadian Asset Management LLC now owns 156,048 shares of the company’s stock worth $138,000 after purchasing an additional 134,186 shares during the period. Affinity Asset Advisors LLC boosted its holdings in shares of ADC Therapeutics by 83.3% in the 3rd quarter. Affinity Asset Advisors LLC now owns 1,100,000 shares of the company’s stock worth $987,000 after purchasing an additional 500,000 shares during the period. Finally, Redmile Group LLC boosted its holdings in ADC Therapeutics by 0.9% during the 3rd quarter. Redmile Group LLC now owns 14,178,045 shares of the company’s stock valued at $12,718,000 after acquiring an additional 128,110 shares during the period. Institutional investors own 41.10% of the company’s stock.

Wall Street Analyst Weigh In

ADCT has been the topic of a number of recent research reports. Guggenheim reissued a “buy” rating on shares of ADC Therapeutics in a report on Friday, April 5th. HC Wainwright dropped their target price on ADC Therapeutics from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $8.00 target price on shares of ADC Therapeutics in a research report on Thursday, March 14th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $7.25.

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.