ADC Therapeutics (NYSE:ADCT) Shares Down 4.9% – Should You Sell?

ADC Therapeutics SA (NYSE:ADCT) shares dropped 4.9% on Tuesday . The stock traded as low as $1.27 and last traded at $1.2930. 930,738 shares were traded during mid-day trading, a decline of 49% from the average session volume of 1,823,087 shares. The stock had previously closed at $1.36.

Analysts Set New Price Targets

Several equities research analysts have commented on ADCT shares. Wall Street Zen raised shares of ADC Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Guggenheim reduced their target price on shares of ADC Therapeutics to $5.00 and set a “buy” rating for the company in a research note on Monday, August 17th. HC Wainwright lowered shares of ADC Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday, June 8th. Cantor Fitzgerald restated an “overweight” rating on shares of ADC Therapeutics in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada downgraded shares of ADC Therapeutics from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $6.00 to $2.00 in a report on Thursday, June 4th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ADC Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $5.00.

ADC Therapeutics Stock Performance

The business has a 50 day moving average of $1.18 and a 200-day moving average of $2.52. The company has a market capitalization of $141.08 million, a P/E ratio of -1.67 and a beta of 1.84.

ADC Therapeutics (NYSE:ADCT) last issued its earnings results on Thursday, August 13th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.11. The company had revenue of $19.25 million during the quarter, compared to the consensus estimate of $18.89 million. As a group, equities analysts forecast that ADC Therapeutics SA will post -0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On ADC Therapeutics

Several hedge funds have recently bought and sold shares of ADCT. Eventide Asset Management LLC purchased a new position in shares of ADC Therapeutics during the 4th quarter valued at $11,875,000. Nantahala Capital Management LLC raised its position in shares of ADC Therapeutics by 141.6% in the fourth quarter. Nantahala Capital Management LLC now owns 5,475,433 shares of the company’s stock worth $19,328,000 after buying an additional 3,209,144 shares in the last quarter. TCG Crossover Management LLC purchased a new stake in shares of ADC Therapeutics in the third quarter worth $5,561,000. Lynx1 Capital Management LP bought a new stake in ADC Therapeutics during the third quarter valued at $5,303,000. Finally, Prosight Management LP boosted its stake in ADC Therapeutics by 13.5% during the fourth quarter. Prosight Management LP now owns 8,477,338 shares of the company’s stock valued at $29,925,000 after buying an additional 1,005,035 shares during the period. Hedge funds and other institutional investors own 41.10% of the company’s stock.

About ADC Therapeutics

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.