ADC Therapeutics (ADCT) Set to Announce Quarterly Earnings on Wednesday

ADC Therapeutics (NYSE:ADCT) will issue its quarterly earnings data before the market opens on Wednesday, March 13th. Analysts expect the company to announce earnings of ($0.40) per share for the quarter.

ADC Therapeutics Stock Performance

ADC Therapeutics stock traded down $0.07 during midday trading on Thursday, reaching $4.93. 329,350 shares of the stock traded hands, compared to its average volume of 902,298. The company has a 50-day simple moving average of $3.35 and a two-hundred day simple moving average of $1.79. ADC Therapeutics has a 12-month low of $0.36 and a 12-month high of $6.04.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $9.00 price objective on shares of ADC Therapeutics in a research note on Wednesday. TD Cowen reiterated a “market perform” rating on shares of ADC Therapeutics in a research note on Thursday, November 9th. Finally, Royal Bank of Canada lifted their price objective on ADC Therapeutics from $6.00 to $8.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $6.33.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ADCT. Prospera Financial Services Inc acquired a new position in shares of ADC Therapeutics in the first quarter valued at approximately $25,000. HRT Financial LP purchased a new stake in shares of ADC Therapeutics in the first quarter valued at $31,000. Quantbot Technologies LP purchased a new stake in shares of ADC Therapeutics in the second quarter valued at $38,000. Tower Research Capital LLC TRC increased its stake in ADC Therapeutics by 1,253.3% in the third quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company’s stock valued at $46,000 after purchasing an additional 8,773 shares during the last quarter. Finally, Advisor Group Holdings Inc. increased its stake in 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 during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

About ADC Therapeutics

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; and LOTIS-7, a Phase Ib clinical trial for treatment of relapsed or refractory B-cell lineage non-hodgkin lymphoma (B-NHL).