ADC Therapeutics (NYSE:ADCT) Releases Quarterly Earnings Results, Beats Estimates By $0.23 EPS

ADC Therapeutics (NYSE:ADCT) released its quarterly earnings data on Tuesday. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.23, FiscalAI reports.

ADC Therapeutics Trading Up 2.4%

Shares of ADC Therapeutics stock opened at $4.21 on Tuesday. The company’s fifty day simple moving average is $3.87 and its two-hundred day simple moving average is $3.86. The company has a market cap of $521.41 million, a P/E ratio of -2.90 and a beta of 1.91. ADC Therapeutics has a 12-month low of $1.05 and a 12-month high of $4.80.

Institutional Investors Weigh In On ADC Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADCT. Engineers Gate Manager LP purchased a new stake in shares of ADC Therapeutics in the fourth quarter valued at $43,000. Creative Planning purchased a new stake in ADC Therapeutics during the 2nd quarter worth approximately $96,000. Russell Investments Group Ltd. lifted its holdings in shares of ADC Therapeutics by 31.1% during the third quarter. Russell Investments Group Ltd. now owns 32,502 shares of the company’s stock worth $130,000 after purchasing an additional 7,701 shares during the period. Price T Rowe Associates Inc. MD grew its position in ADC Therapeutics by 25.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 46,750 shares of the company’s stock worth $166,000 after purchasing an additional 9,537 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in shares of ADC Therapeutics by 65.3% in the 4th quarter. MetLife Investment Management LLC now owns 49,682 shares of the company’s stock valued at $175,000 after purchasing an additional 19,633 shares during the period. Institutional investors own 41.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ADCT. Wall Street Zen upgraded shares of ADC Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $5.00 target price on shares of ADC Therapeutics in a research report on Wednesday, December 3rd. Guggenheim reissued a “buy” rating and set a $10.00 target price on shares of ADC Therapeutics in a report on Wednesday, November 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ADC Therapeutics in a research note on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.33.

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.