ADC Therapeutics (NYSE:ADCT) Trading Up 4%

Shares of ADC Therapeutics SA (NYSE:ADCT) were up 4% on Thursday . The company traded as high as $19.83 and last traded at $19.64. Approximately 1,817 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 157,361 shares. The stock had previously closed at $18.88.

A number of research analysts have recently weighed in on ADCT shares. Wolfe Research started coverage on ADC Therapeutics in a research note on Monday, November 8th. They issued an “outperform” rating and a $44.00 price target on the stock. Zacks Investment Research downgraded ADC Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday. HC Wainwright reissued a “buy” rating on shares of ADC Therapeutics in a research note on Thursday, November 4th. Finally, Royal Bank of Canada increased their price target on ADC Therapeutics from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, November 3rd. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, ADC Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $42.17.

The company has a debt-to-equity ratio of 0.76, a quick ratio of 9.45 and a current ratio of 9.59. The company has a 50 day moving average of $21.80 and a 200 day moving average of $24.44.

ADC Therapeutics (NYSE:ADCT) last issued its quarterly earnings data on Tuesday, November 2nd. The company reported ($0.93) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.92) by ($0.01). The company had revenue of $13.15 million during the quarter, compared to analyst estimates of $7.74 million. During the same quarter in the previous year, the firm earned ($0.29) earnings per share. Analysts expect that ADC Therapeutics SA will post -3.36 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dark Forest Capital Management LP acquired a new stake in shares of ADC Therapeutics in the 3rd quarter valued at about $25,000. FORA Capital LLC acquired a new stake in shares of ADC Therapeutics in the 2nd quarter valued at about $27,000. Banque Cantonale Vaudoise raised its stake in shares of ADC Therapeutics by 410.0% in the 2nd quarter. Banque Cantonale Vaudoise now owns 5,100 shares of the company’s stock valued at $124,000 after purchasing an additional 4,100 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of ADC Therapeutics in the 2nd quarter valued at about $396,000. Finally, CNA Financial Corp raised its stake in shares of ADC Therapeutics by 8.5% in the 2nd quarter. CNA Financial Corp now owns 17,025 shares of the company’s stock valued at $415,000 after purchasing an additional 1,339 shares during the period. 47.58% of the stock is currently owned by hedge funds and other institutional investors.

About ADC Therapeutics (NYSE:ADCT)

ADC Therapeutics SA, a clinical-stage oncology-focused biotechnology company, develops antibody drug conjugates (ADC) for patients suffering from hematological malignancies and solid tumors. Its lead product candidates are loncastuximab tesirine (ADCT-402), an ADC that is in a Phase II clinical trial for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL) and follicular lymphoma, and Phase III clinical trial in combination with rituximab to treat relapsed or refractory DLBCL, as well as Phase I/II clinical trial in combination with ibrutinib for relapsed or refractory DLBCL and mantle cell lymphoma; and camidanlumab tesirine (ADCT-301), an ADC that is in a pivotal Phase II clinical trial for the treatment of relapsed or refractory Hodgkin lymphoma and non-Hodgkin lymphoma, and Phase Ib clinical trial for selected advanced solid tumors.

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