ADC Therapeutics SA (NYSE:ADCT) Given Consensus Rating of “Hold” by Analysts

ADC Therapeutics SA (NYSE:ADCT) has been given a consensus rating of “Hold” by the five brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $6.6667.

ADCT has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of ADC Therapeutics in a research note on Monday, April 20th. Royal Bank Of Canada cut shares of ADC Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $6.00 to $2.00 in a research report on Thursday. HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of ADC Therapeutics in a report on Tuesday, May 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of ADC Therapeutics in a report on Thursday.

ADC Therapeutics Stock Performance

ADC Therapeutics stock traded down $1.59 during midday trading on Thursday, reaching $1.49. 2,318,056 shares of the company were exchanged, compared to its average volume of 915,450. The firm’s 50-day simple moving average is $3.69 and its 200-day simple moving average is $3.84. ADC Therapeutics has a 1 year low of $1.33 and a 1 year high of $4.98. The company has a market capitalization of $189.00 million, a price-to-earnings ratio of -1.41 and a beta of 1.77.

ADC Therapeutics (NYSE:ADCT) last released 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 the consensus estimate of $19.99 million. During the same quarter last year, the business posted ($0.36) EPS. On average, analysts forecast that ADC Therapeutics will post -0.88 EPS for the current fiscal year.

Insider Buying and Selling

In other ADC Therapeutics news, major shareholder Redmile Group, Llc sold 2,634,506 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $3.28, for a total value of $8,641,179.68. Following the completion of the transaction, the insider owned 12,666,731 shares in the company, valued at $41,546,877.68. This represents a 17.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 5,880,415 shares of company stock worth $19,641,067. Insiders own 5.40% of the company’s stock.

Institutional Trading of ADC Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC raised its holdings in ADC Therapeutics by 411.1% in the first quarter. AQR Capital Management LLC now owns 201,170 shares of the company’s stock valued at $284,000 after acquiring an additional 161,808 shares in the last quarter. Creative Planning acquired a new position in ADC Therapeutics during the 2nd quarter worth $96,000. Nantahala Capital Management LLC bought a new stake in shares of ADC Therapeutics in the 2nd quarter worth about $6,074,000. Bank of America Corp DE raised its stake in shares of ADC Therapeutics by 22.1% in the 2nd quarter. Bank of America Corp DE now owns 2,199,059 shares of the company’s stock valued at $5,893,000 after purchasing an additional 397,905 shares in the last quarter. Finally, Corient Private Wealth LLC bought a new position in shares of ADC Therapeutics during the second quarter worth about $959,000. Institutional investors and hedge funds 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.