ADC Therapeutics’ (ADCT) “Neutral” Rating Reiterated at HC Wainwright

ADC Therapeutics (NYSE:ADCT)‘s stock had its “neutral” rating reaffirmed by investment analysts at HC Wainwright in a research note issued on Monday, MarketBeat.com reports.

Other equities analysts have also recently issued research reports about the stock. Stephens restated an “overweight” rating and issued a $5.00 price objective on shares of ADC Therapeutics in a research report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of ADC Therapeutics in a research report on Monday, April 20th. Royal Bank Of Canada cut shares of ADC Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $6.00 to $2.00 in a research report on Thursday. Cantor Fitzgerald restated an “overweight” rating on shares of ADC Therapeutics in a research report on Thursday. Finally, Wall Street Zen cut shares of ADC Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, ADC Therapeutics currently has an average rating of “Hold” and an average price target of $6.25.

ADC Therapeutics Stock Down 0.5%

Shares of NYSE:ADCT opened at $1.03 on Monday. The stock has a market cap of $130.37 million, a PE ratio of -0.98 and a beta of 1.77. The company’s fifty day moving average is $3.58 and its 200 day moving average is $3.80. ADC Therapeutics has a 52 week low of $1.01 and a 52 week high of $4.98.

ADC Therapeutics (NYSE:ADCT) last issued its earnings results on Tuesday, May 5th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The company had revenue of $20.85 million for the quarter, compared to the consensus estimate of $19.99 million. During the same quarter in the previous year, the firm posted ($0.36) EPS. Sell-side analysts anticipate that ADC Therapeutics will post -0.88 EPS for the current year.

Insider Activity

In related news, major shareholder Redmile Group, Llc sold 2,634,506 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 12,666,731 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 5,880,415 shares of company stock worth $19,641,067 in the last 90 days. 5.40% of the stock is owned by insiders.

Institutional Investors Weigh In On ADC Therapeutics

Several hedge funds have recently bought and sold shares of ADCT. Eventide Asset Management LLC bought a new stake in ADC Therapeutics during the fourth quarter worth about $11,875,000. Nantahala Capital Management LLC boosted its stake in 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 acquiring an additional 3,209,144 shares in the last quarter. TCG Crossover Management LLC bought a new stake in ADC Therapeutics during the third quarter worth about $5,561,000. Lynx1 Capital Management LP bought a new stake in ADC Therapeutics during the third quarter worth about $5,303,000. Finally, Prosight Management LP boosted its stake in 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 acquiring an additional 1,005,035 shares in the last quarter. Institutional investors 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.