Orbimed Advisors LLC Sells 4,504,828 Shares of ADC Therapeutics SA $ADCT

Orbimed Advisors LLC reduced its position in shares of ADC Therapeutics SA (NYSE:ADCT) by 77.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,318,026 shares of the company’s stock after selling 4,504,828 shares during the period. Orbimed Advisors LLC’s holdings in ADC Therapeutics were worth $4,943,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in shares of ADC Therapeutics in the first quarter valued at about $38,000. Engineers Gate Manager LP bought a new stake in ADC Therapeutics in the 4th quarter valued at about $43,000. ProShare Advisors LLC boosted its holdings in ADC Therapeutics by 27.0% in the 4th quarter. ProShare Advisors LLC now owns 15,727 shares of the company’s stock valued at $56,000 after purchasing an additional 3,339 shares during the period. AXQ Capital LP acquired a new position in shares of ADC Therapeutics during the 4th quarter worth approximately $57,000. Finally, SG Americas Securities LLC bought a new position in shares of ADC Therapeutics during the fourth quarter worth approximately $86,000. 41.10% of the stock is owned by institutional investors and hedge funds.

ADC Therapeutics Stock Up 2.2%

Shares of ADCT opened at $1.18 on Monday. ADC Therapeutics SA has a 12-month low of $0.78 and a 12-month high of $4.98. The stock has a market cap of $149.45 million, a PE ratio of -1.12 and a beta of 1.87. The business has a 50-day simple moving average of $1.73 and a two-hundred day simple moving average of $3.14.

ADC Therapeutics (NYSE:ADCT) last issued its quarterly earnings results on Monday, May 4th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The firm had revenue of $20.85 million for the quarter, compared to analysts’ expectations of $19.99 million. During the same quarter in the prior year, the business earned ($0.36) EPS. On average, equities research analysts expect that ADC Therapeutics SA will post -0.88 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ADCT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of ADC Therapeutics in a research report on Friday, July 17th. Royal Bank Of Canada cut ADC Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $6.00 to $2.00 in a research report on Thursday, June 4th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ADC Therapeutics in a research note on Thursday, June 4th. Stephens reiterated an “overweight” rating and set a $5.00 price objective on shares of ADC Therapeutics in a research note on Thursday, June 4th. Finally, HC Wainwright lowered shares of ADC Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, June 8th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, ADC Therapeutics presently has an average rating of “Hold” and a consensus price target of $6.25.

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.