ADC Therapeutics (NYSE:ADCT) Stock Price Up 6.7% – Time to Buy?

ADC Therapeutics SA (NYSE:ADCT) shares rose 6.7% during mid-day trading on Monday . The stock traded as high as $4.39 and last traded at $4.3750. Approximately 237,268 shares traded hands during trading, a decline of 68% from the average daily volume of 739,613 shares. The stock had previously closed at $4.10.

Wall Street Analysts Forecast Growth

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

ADC Therapeutics Stock Down 2.8%

The stock has a 50 day moving average price of $3.77 and a 200 day moving average price of $3.79.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ADCT. Engineers Gate Manager LP acquired a new position in shares of ADC Therapeutics in the 4th quarter worth $43,000. R Squared Ltd purchased a new position in ADC Therapeutics in the 3rd quarter worth about $59,000. ProShare Advisors LLC increased its stake in ADC Therapeutics by 27.0% in the 4th quarter. ProShare Advisors LLC now owns 15,727 shares of the company’s stock worth $56,000 after purchasing an additional 3,339 shares in the last quarter. AXQ Capital LP acquired a new stake in ADC Therapeutics during the 4th quarter worth about $57,000. Finally, Henrickson Nauta Wealth Advisors Inc. purchased a new stake in ADC Therapeutics during the fourth quarter valued at about $69,000. Institutional investors and hedge funds own 41.10% of the company’s stock.

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.