ADC Therapeutics SA (NYSE:ADCT) Given Consensus Recommendation of “Hold” by Brokerages

ADC Therapeutics SA (NYSE:ADCT) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $6.25.

ADCT has been the subject of a number of research analyst reports. Wall Street Zen cut shares of ADC Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Royal Bank Of Canada cut shares of ADC Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $6.00 to $2.00 in a research report on Thursday, June 4th. Stephens restated an “overweight” rating and issued a $5.00 price objective on shares of ADC Therapeutics in a research report on Thursday, June 4th. Cantor Fitzgerald restated an “overweight” rating on shares of ADC Therapeutics in a research report on Thursday, June 4th. Finally, HC Wainwright cut shares of ADC Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday.

Insiders Place Their Bets

In related news, major shareholder Redmile Group, Llc sold 2,634,506 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $3.28, for a total value of $8,641,179.68. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders have sold 5,880,415 shares of company stock valued at $19,641,067. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. ProShare Advisors LLC raised its position in 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 purchasing an additional 3,339 shares during the last quarter. Quantinno Capital Management LP grew its holdings in ADC Therapeutics by 36.0% during the 1st quarter. Quantinno Capital Management LP now owns 14,719 shares of the company’s stock worth $55,000 after acquiring an additional 3,894 shares during the period. Russell Investments Group Ltd. grew its holdings in ADC Therapeutics by 31.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 32,502 shares of the company’s stock worth $130,000 after acquiring an additional 7,701 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in ADC Therapeutics by 25.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 46,750 shares of the company’s stock worth $166,000 after acquiring an additional 9,537 shares during the period. Finally, R Squared Ltd acquired a new stake in ADC Therapeutics during the 1st quarter worth $38,000. Institutional investors own 41.10% of the company’s stock.

ADC Therapeutics Trading Up 0.5%

NYSE:ADCT opened at $1.11 on Thursday. ADC Therapeutics has a 1 year low of $0.78 and a 1 year high of $4.98. The firm has a 50 day moving average of $3.41 and a 200-day moving average of $3.74. The stock has a market capitalization of $140.54 million, a P/E ratio of -1.05 and a beta of 1.77.

ADC Therapeutics (NYSE:ADCT) last posted its earnings results on Tuesday, May 5th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The firm had revenue of $20.85 million for the quarter, compared to the consensus estimate of $19.99 million. During the same period in the prior year, the business earned ($0.36) EPS. As a group, analysts forecast that ADC Therapeutics will post -0.88 EPS for the current fiscal year.

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.