Wall Street Zen Upgrades ADC Therapeutics (NYSE:ADCT) to Hold

ADC Therapeutics (NYSE:ADCT) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Other equities analysts have also issued research reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ADC Therapeutics in a research report on Thursday, June 4th. HC Wainwright cut shares of ADC Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, June 8th. Stephens reiterated an “overweight” rating and set a $5.00 price target on shares of ADC Therapeutics in a report on Thursday, June 4th. Royal Bank Of Canada lowered shares of ADC Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $6.00 to $2.00 in a report on Thursday, June 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ADC Therapeutics in a research note on Friday, July 17th. Three 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.25.

ADC Therapeutics Stock Down 0.5%

Shares of ADCT opened at $1.00 on Friday. The stock has a market cap of $127.83 million, a P/E ratio of -1.52 and a beta of 1.89. The business’s 50 day moving average price is $1.15 and its 200-day moving average price is $2.87. ADC Therapeutics has a 52 week low of $0.78 and a 52 week high of $4.98.

ADC Therapeutics (NYSE:ADCT) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.11. The company had revenue of $19.25 million for the quarter, compared to the consensus estimate of $18.89 million. On average, equities analysts anticipate that ADC Therapeutics will post -0.88 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its position in ADC Therapeutics by 411.1% in the 1st quarter. AQR Capital Management LLC now owns 201,170 shares of the company’s stock worth $284,000 after purchasing an additional 161,808 shares during the period. Creative Planning bought a new position in shares of ADC Therapeutics during the 2nd quarter valued at $96,000. Nantahala Capital Management LLC bought a new position in shares of ADC Therapeutics during the 2nd quarter valued at $6,074,000. Bank of America Corp DE boosted its stake in shares of ADC Therapeutics by 22.1% in the 2nd quarter. Bank of America Corp DE now owns 2,199,059 shares of the company’s stock worth $5,893,000 after buying an additional 397,905 shares during the last quarter. Finally, Corient Private Wealth LLC bought a new stake in shares of ADC Therapeutics in the second quarter worth $959,000. Institutional investors own 41.10% of the company’s stock.

ADC Therapeutics Company Profile

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.