ADC Therapeutics SA (NYSE:ADCT) Receives Average Recommendation of “Hold” from Analysts

ADC Therapeutics SA (NYSE:ADCT) has received an average recommendation of “Hold” from the six analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $6.25.

ADCT has been the subject of a number of analyst reports. Stephens reiterated an “overweight” rating and issued a $5.00 target price on shares of ADC Therapeutics in a research note on Thursday, June 4th. Royal Bank Of Canada cut shares of ADC Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $6.00 to $2.00 in a research note on Thursday, June 4th. HC Wainwright cut shares of ADC Therapeutics from a “buy” rating to a “neutral” rating in a research note on Monday, June 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ADC Therapeutics in a research note on Monday, April 20th. Finally, Wall Street Zen cut shares of ADC Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th.

Insider Activity at ADC Therapeutics

In other news, major shareholder Redmile Group, Llc sold 2,634,506 shares of ADC Therapeutics stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $3.28, for a total value of $8,641,179.68. Following the transaction, the insider owned 12,666,731 shares of the company’s stock, valued at $41,546,877.68. This trade represents a 17.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 5,880,415 shares of company stock valued at $19,641,067 over the last 90 days. Company insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On ADC Therapeutics

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of ADC Therapeutics by 865.3% in the third quarter. JPMorgan Chase & Co. now owns 330,597 shares of the company’s stock valued at $1,322,000 after purchasing an additional 296,350 shares during the period. Eventide Asset Management LLC bought a new position in shares of ADC Therapeutics in the fourth quarter valued at approximately $11,875,000. Kingswood Wealth Advisors LLC bought a new position in shares of ADC Therapeutics in the fourth quarter valued at approximately $371,000. SG Americas Securities LLC bought a new position in shares of ADC Therapeutics in the fourth quarter valued at approximately $86,000. Finally, Henrickson Nauta Wealth Advisors Inc. bought a new position in shares of ADC Therapeutics in the fourth quarter valued at approximately $69,000. Institutional investors own 41.10% of the company’s stock.

ADC Therapeutics Stock Up 1.5%

NYSE ADCT opened at $1.04 on Monday. The stock has a market capitalization of $131.64 million, a PE ratio of -0.99 and a beta of 1.77. The company has a 50 day moving average price of $2.75 and a two-hundred day moving average price of $3.49. ADC Therapeutics has a 12-month low of $0.78 and a 12-month high of $4.98.

ADC Therapeutics (NYSE:ADCT) last posted its earnings results on Tuesday, May 5th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The business had revenue of $20.85 million for the quarter, compared to analysts’ expectations of $19.99 million. During the same period in the previous year, the business earned ($0.36) EPS. As a group, equities analysts anticipate that ADC Therapeutics will post -0.88 EPS for the current year.

ADC Therapeutics Company Profile

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.