Fintel reports that Redmile Group has filed a 13G/A form with the SEC disclosing ownership of 13.57MM shares of Adc Telecommunications Inc (ADCT). This represents 16.8% of the company.
In their previous filing dated February 14, 2022 they reported 7.45MM shares and 9.70% of the company, an increase in shares of 82.06% and an increase in total ownership of 7.10% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 203.99% Upside
As of February 10, 2023, the average one-year price target for Adc Telecommunications is $13.41. The forecasts range from a low of $5.05 to a high of $26.25. The average price target represents an increase of 203.99% from its latest reported closing price of $4.41.
The projected annual revenue for Adc Telecommunications is $166MM, an increase of 5.95%. The projected annual EPS is -$2.58.
What is the Fund Sentiment?
There are 131 funds or institutions reporting positions in Adc Telecommunications. This is an increase of 6 owner(s) or 4.80% in the last quarter. Average portfolio weight of all funds dedicated to ADCT is 0.10%, a decrease of 39.51%. Total shares owned by institutions increased in the last three months by 2.49% to 43,347K shares. The put/call ratio of ADCT is 1.01, indicating a bearish outlook.
What are large shareholders doing?
Jpmorgan Chase & holds 3,417K shares representing 4.24% ownership of the company. In it's prior filing, the firm reported owning 3,454K shares, representing a decrease of 1.09%. The firm decreased its portfolio allocation in ADCT by 38.17% over the last quarter.
Alliancebernstein holds 2,915K shares representing 3.61% ownership of the company. In it's prior filing, the firm reported owning 2,962K shares, representing a decrease of 1.59%. The firm decreased its portfolio allocation in ADCT by 36.74% over the last quarter.
Deerfield Management Company, L.p. holds 2,390K shares representing 2.96% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Eventide Asset Management holds 1,880K shares representing 2.33% ownership of the company. No change in the last quarter.
ETAHX - Eventide Healthcare & Life Sciences Fund Shares holds 1,880K shares representing 2.33% ownership of the company. No change in the last quarter.
Adc Therapeutics Background Information
(This description is provided by the company.)
ADC Therapeutics SA is a late clinical-stage oncology-focused biotechnology company pioneering the development and commercialization of potent and targeted antibody drug conjugates (ADCs) for patients with hematological malignancies and solid tumors. The Company has created a deep clinical pipeline by combining its decades of experience and strategic target selection with proprietary next-generation pyrrolobenzodiazepine (PBD) technology. The Company's Biologics License Application for its lead product candidate, loncastuximab tesirine (Lonca, formerly ADCT-402) for the treatment of relapsed or refractory diffuse large B-cell lymphoma was given priority review status by the U.S. Food and Drug Administration and a Prescription Drug User Fee Act (PDUFA) target date of May 21, 2021. The Company's second lead product candidate, camidanlumab tesirine (Cami, formerly ADCT-301), is being evaluated in a 117-patient pivotal Phase 2 clinical trial for the treatment of relapsed or refractory Hodgkin lymphoma.
This story originally appeared on Fintel.
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