Lazard Asset Management LLC Takes Position in ADC Therapeutics SA (NYSE:ADCT)

Lazard Asset Management LLC purchased a new stake in ADC Therapeutics SA (NYSE:ADCTGet Rating) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,098 shares of the company’s stock, valued at approximately $127,000.

A number of other large investors have also made changes to their positions in ADCT. Prospera Financial Services Inc purchased a new stake in shares of ADC Therapeutics in the first quarter valued at approximately $87,000. Advisor Group Holdings Inc. grew its position 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 purchasing an additional 3,011 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of ADC Therapeutics by 0.7% in the first quarter. Principal Financial Group Inc. now owns 305,246 shares of the company’s stock valued at $4,484,000 after purchasing an additional 2,012 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in ADC Therapeutics by 6.9% in the first quarter. JPMorgan Chase & Co. now owns 3,414,630 shares of the company’s stock valued at $50,162,000 after acquiring an additional 219,788 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in ADC Therapeutics by 3.5% in the first quarter. BlackRock Inc. now owns 304,229 shares of the company’s stock valued at $4,469,000 after acquiring an additional 10,372 shares during the last quarter.

ADC Therapeutics Stock Down 3.8 %

ADC Therapeutics stock opened at $3.77 on Tuesday. ADC Therapeutics SA has a twelve month low of $3.66 and a twelve month high of $23.28. The stock’s fifty day simple moving average is $4.70 and its 200-day simple moving average is $6.56. The company has a current ratio of 5.00, a quick ratio of 4.82 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $289.57 million, a P/E ratio of -1.75 and a beta of 1.18.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Morgan Stanley decreased their price objective on ADC Therapeutics from $11.00 to $7.00 and set an “equal weight” rating on the stock in a report on Monday, November 14th. Bank of America cut ADC Therapeutics from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $14.00 to $7.00 in a report on Tuesday, November 8th. JPMorgan Chase & Co. initiated coverage on ADC Therapeutics in a report on Wednesday, September 21st. They issued an “overweight” rating and a $5.00 price objective on the stock. HC Wainwright upped their price target on ADC Therapeutics from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, September 19th. Finally, Royal Bank of Canada decreased their price target on ADC Therapeutics from $25.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 9th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.00.

ADC Therapeutics Company Profile

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ADC Therapeutics SA, a commercial-stage biotechnology company, develops antibody drug conjugates (ADC) for patients suffering from hematological malignancies and solid tumors. Its flagship product ZYNLONTA that is in Phase II clinical trial for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL) and follicular lymphoma; Phase III clinical trial in combination with rituximab to treat relapsed or refractory DLBCL in second-line transplant-ineligible patients; and Phase I clinical trial for treatment of relapsed or refractory non-hodgkin lymphoma (NHL).

See Also

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Institutional Ownership by Quarter for ADC Therapeutics (NYSE:ADCT)

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