ADC Therapeutics (NYSE:ADCT) Trading Up 0.4% – Time to Buy?

ADC Therapeutics SA (NYSE:ADCT)’s share price traded up 0.4% during trading on Thursday . The stock traded as high as $3.46 and last traded at $3.4450. 454,455 shares were traded during trading, a decline of 60% from the average session volume of 1,136,158 shares. The stock had previously closed at $3.43.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Royal Bank Of Canada restated an “outperform” rating and set a $6.00 target price on shares of ADC Therapeutics in a research report on Tuesday, May 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ADC Therapeutics in a report on Monday, April 20th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $8.00 price target on shares of ADC Therapeutics in a report on Tuesday, May 5th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ADC Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $8.00.

ADC Therapeutics Trading Up 0.4%

The stock has a fifty day moving average of $3.74 and a two-hundred day moving average of $3.86. The stock has a market capitalization of $438.17 million, a price-to-earnings ratio of -3.28 and a beta of 1.83.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings results on Monday, May 4th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The company had revenue of $20.85 million during the quarter, compared to analysts’ expectations of $19.99 million. During the same period last year, the company earned ($0.36) earnings per share. Equities analysts expect that ADC Therapeutics SA will post -0.88 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Redmile Group, Llc sold 2,634,506 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $3.28, for a total transaction of $8,641,179.68. Following the completion of the sale, the insider directly owned 12,666,731 shares of the company’s stock, valued at $41,546,877.68. This trade represents a 17.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 5,880,415 shares of company stock worth $19,641,067. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On ADC Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in ADCT. Eventide Asset Management LLC acquired a new stake in shares of ADC Therapeutics in the 4th quarter valued at $11,875,000. Nantahala Capital Management LLC increased its stake in shares of ADC Therapeutics by 141.6% in the 4th quarter. Nantahala Capital Management LLC now owns 5,475,433 shares of the company’s stock valued at $19,328,000 after buying an additional 3,209,144 shares during the period. TCG Crossover Management LLC acquired a new stake in shares of ADC Therapeutics in the 3rd quarter valued at $5,561,000. Lynx1 Capital Management LP acquired a new stake in shares of ADC Therapeutics in the 3rd quarter valued at $5,303,000. Finally, Prosight Management LP increased its stake in shares of ADC Therapeutics by 13.5% in the 4th 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. 41.10% of the stock is owned by institutional investors and hedge funds.

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.