ADC Therapeutics (NYSE:ADCT) Sees Strong Trading Volume – Still a Buy?

Shares of ADC Therapeutics SA (NYSE:ADCT) saw an uptick in trading volume on Wednesday . 1,046,932 shares changed hands during trading, an increase of 42% from the previous session’s volume of 736,678 shares.The stock last traded at $4.2870 and had previously closed at $4.05.

Analyst Ratings Changes

ADCT has been the subject of a number of recent analyst reports. Wall Street Zen upgraded ADC Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Royal Bank Of Canada restated an “outperform” rating and set a $5.00 target price on shares of ADC Therapeutics in a research report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ADC Therapeutics in a research note on Wednesday, January 21st. Finally, Guggenheim reiterated a “buy” rating and issued a $10.00 target price on shares of ADC Therapeutics in a report on Wednesday, November 12th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $7.33.

ADC Therapeutics Trading Up 6.9%

The stock’s 50-day moving average price is $3.82 and its 200-day moving average price is $3.83. The company has a market cap of $536.40 million, a P/E ratio of -2.99 and a beta of 1.92.

Hedge Funds Weigh In On ADC Therapeutics

A number of institutional investors have recently modified their holdings of the company. Eventide Asset Management LLC bought a new position in shares of ADC Therapeutics in the 4th quarter worth $11,875,000. Nantahala Capital Management LLC lifted its stake in shares of ADC Therapeutics by 141.6% in the fourth 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 in the last quarter. TCG Crossover Management LLC acquired a new position in shares of ADC Therapeutics during the third quarter valued at about $5,561,000. Lynx1 Capital Management LP bought a new stake in shares of ADC Therapeutics during the third quarter worth about $5,303,000. Finally, Prosight Management LP raised its holdings 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 worth $29,925,000 after acquiring an additional 1,005,035 shares during the last quarter. 41.10% of the stock is 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.