ADC Therapeutics (NYSE:ADCT) Shares Gap Up on Analyst Upgrade

Shares of ADC Therapeutics SA (NYSE:ADCT) gapped up prior to trading on Monday after HC Wainwright raised their price target on the stock from $7.00 to $8.00. The stock had previously closed at $3.86, but opened at $4.10. HC Wainwright currently has a buy rating on the stock. ADC Therapeutics shares last traded at $4.00, with a volume of 76,189 shares.

A number of other equities analysts have also weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ADC Therapeutics in a research note on Wednesday, January 21st. Royal Bank Of Canada reissued an “outperform” rating and set a $5.00 target price on shares of ADC Therapeutics in a research note on Wednesday, December 3rd. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $7.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ADCT. Engineers Gate Manager LP purchased a new stake in ADC Therapeutics during the fourth quarter valued at $43,000. ProShare Advisors LLC increased its holdings in shares of ADC Therapeutics by 27.0% in the 4th quarter. ProShare Advisors LLC now owns 15,727 shares of the company’s stock worth $56,000 after buying an additional 3,339 shares during the last quarter. AXQ Capital LP purchased a new stake in shares of ADC Therapeutics during the 4th quarter valued at about $57,000. R Squared Ltd purchased a new stake in shares of ADC Therapeutics during the 3rd quarter valued at about $59,000. Finally, Henrickson Nauta Wealth Advisors Inc. bought a new position in shares of ADC Therapeutics in the 4th quarter valued at about $69,000. 41.10% of the stock is owned by hedge funds and other institutional investors.

ADC Therapeutics Price Performance

The company has a 50-day moving average of $3.99 and a 200 day moving average of $3.93. The company has a market cap of $502.44 million, a PE ratio of -3.31 and a beta of 1.91.

ADC Therapeutics (NYSE:ADCT) last issued its quarterly earnings data on Tuesday, March 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.28. The company had revenue of $23.06 million for the quarter, compared to analysts’ expectations of $22.29 million. Equities research analysts expect that ADC Therapeutics SA will post -1.69 EPS for the current year.

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.