ADC Therapeutics (NYSE:ADCT) Trading Up 0.5%

ADC Therapeutics SA (NYSE:ADCT) was up 0.5% during trading on Wednesday . The company traded as high as $3.01 and last traded at $2.95. Approximately 156,552 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 697,936 shares. The stock had previously closed at $2.93.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ADCT shares. HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of ADC Therapeutics in a research note on Thursday, August 8th. Royal Bank of Canada restated an “outperform” rating and issued a $8.00 target price on shares of ADC Therapeutics in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald initiated coverage on ADC Therapeutics in a research note on Thursday, May 30th. They set an “overweight” rating for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, ADC Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

ADC Therapeutics Stock Performance

The company has a market cap of $299.62 million, a P/E ratio of -1.11 and a beta of 1.58. The firm has a 50 day moving average price of $3.14 and a 200-day moving average price of $3.75.

ADC Therapeutics (NYSE:ADCT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.06. The business had revenue of $17.41 million for the quarter, compared to analyst estimates of $19.06 million. During the same period in the prior year, the firm posted ($0.58) EPS. On average, sell-side analysts forecast that ADC Therapeutics SA will post -1.69 EPS for the current fiscal year.

Insider Buying and Selling

In other ADC Therapeutics news, major shareholder Redmile Group, Llc acquired 400,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was acquired at an average price of $2.81 per share, with a total value of $1,124,000.00. Following the transaction, the insider now owns 12,995,040 shares of the company’s stock, valued at $36,516,062.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.05% of the stock is owned by insiders.

Hedge Funds Weigh In On ADC Therapeutics

Large investors have recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of ADC Therapeutics in the 2nd quarter valued at approximately $33,000. Acadian Asset Management LLC bought a new stake in shares of ADC Therapeutics in the 2nd quarter valued at approximately $51,000. The Manufacturers Life Insurance Company bought a new stake in shares of ADC Therapeutics in the 2nd quarter valued at approximately $85,000. XTX Topco Ltd grew its stake in shares of ADC Therapeutics by 129.0% in the 2nd quarter. XTX Topco Ltd now owns 56,863 shares of the company’s stock valued at $180,000 after purchasing an additional 32,034 shares during the period. Finally, Rhumbline Advisers bought a new stake in shares of ADC Therapeutics in the 2nd quarter valued at approximately $272,000. Institutional investors and hedge funds own 41.10% of the company’s stock.

ADC Therapeutics Company Profile

ADC Therapeutics SA focuses on advancing its proprietary antibody drug conjugate (ADC) technology platform to transform the treatment paradigm for patients with hematologic malignancies and solid tumors. Its flagship product is ZYNLONTA, a CD19-directed ADC, received accelerated approval from the U.S.