ADC Therapeutics SA (NYSE:ADCT) Given Average Rating of “Hold” by Brokerages

Shares of ADC Therapeutics SA (NYSE:ADCT) have been given an average rating of “Hold” by the five analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $6.6667.

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

ADC Therapeutics Stock Performance

Shares of NYSE ADCT traded down $1.59 during trading on Thursday, reaching $1.49. The stock had a trading volume of 2,318,056 shares, compared to its average volume of 915,450. The business’s 50-day moving average price is $3.69 and its 200-day moving average price is $3.84. ADC Therapeutics has a fifty-two week low of $1.33 and a fifty-two week high of $4.98. The company has a market cap of $189.00 million, a P/E 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 for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The business had revenue of $20.85 million during the quarter, compared to the consensus estimate of $19.99 million. During the same period in the prior year, the company posted ($0.36) earnings per share. Analysts forecast that ADC Therapeutics will post -0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Redmile Group, Llc sold 2,634,506 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $3.28, for a total value 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. The trade was a 17.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 5,880,415 shares of company stock worth $19,641,067 over the last 90 days. 5.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ADCT. JPMorgan Chase & Co. increased its position in ADC Therapeutics by 865.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 330,597 shares of the company’s stock valued at $1,322,000 after acquiring an additional 296,350 shares during the period. Henrickson Nauta Wealth Advisors Inc. acquired a new stake in shares of ADC Therapeutics in the 4th quarter valued at approximately $69,000. R Squared Ltd purchased a new stake in shares of ADC Therapeutics in the third quarter valued at approximately $59,000. Bank of New York Mellon Corp grew its holdings in ADC Therapeutics by 16.9% during the first quarter. Bank of New York Mellon Corp now owns 202,254 shares of the company’s stock worth $758,000 after acquiring an additional 29,267 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in ADC Therapeutics in the first quarter valued at $1,122,000. 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.