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

Shares of ADC Therapeutics SA (NYSE:ADCT) have been given a consensus rating of “Hold” by the six ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $6.25.

ADCT has been the topic of several analyst reports. Wall Street Zen downgraded shares of ADC Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of ADC Therapeutics in a research report on Thursday, June 4th. Stephens reissued an “overweight” rating and issued a $5.00 target price on shares of ADC Therapeutics in a research report on Thursday, June 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of ADC Therapeutics in a research report on Monday, April 20th. Finally, Royal Bank Of Canada downgraded shares of ADC Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $6.00 to $2.00 in a research report on Thursday, June 4th.

ADC Therapeutics Price Performance

ADC Therapeutics stock opened at $1.04 on Monday. The firm’s 50 day simple moving average is $2.75 and its 200-day simple moving average is $3.49. The company has a market cap of $131.64 million, a P/E ratio of -0.99 and a beta of 1.77. ADC Therapeutics has a fifty-two week low of $0.78 and a fifty-two week high of $4.98.

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 firm had revenue of $20.85 million for the quarter, compared to analyst estimates of $19.99 million. During the same quarter in the prior year, the business posted ($0.36) earnings per share. On average, analysts expect that ADC Therapeutics will post -0.88 EPS for the current fiscal year.

Insider Activity at ADC Therapeutics

In related news, major shareholder Redmile Group, Llc sold 2,634,506 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were 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 in the company, valued at approximately $41,546,877.68. This trade represents a 17.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 5,880,415 shares of company stock worth $19,641,067 in the last ninety days. Company insiders own 5.40% of the company’s stock.

Institutional Trading of ADC Therapeutics

Several institutional investors have recently made changes to their positions in ADCT. Eventide Asset Management LLC acquired a new stake in shares of ADC Therapeutics during the fourth quarter worth approximately $11,875,000. Nantahala Capital Management LLC boosted its holdings in shares of ADC Therapeutics by 141.6% during the fourth quarter. Nantahala Capital Management LLC now owns 5,475,433 shares of the company’s stock worth $19,328,000 after purchasing an additional 3,209,144 shares during the period. TCG Crossover Management LLC acquired a new stake in shares of ADC Therapeutics during the third quarter worth approximately $5,561,000. Lynx1 Capital Management LP acquired a new stake in shares of ADC Therapeutics during the third quarter worth approximately $5,303,000. Finally, Prosight Management LP boosted its holdings in shares of ADC Therapeutics by 13.5% during the fourth quarter. Prosight Management LP now owns 8,477,338 shares of the company’s stock worth $29,925,000 after purchasing an additional 1,005,035 shares during the period. 41.10% of the stock is currently owned by institutional investors and hedge funds.

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.