ADC Therapeutics (NYSE:ADCT) Stock Crosses Below 50 Day Moving Average – What’s Next?

ADC Therapeutics SA (NYSE:ADCT)’s stock price passed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $1.39 and traded as low as $1.28. ADC Therapeutics shares last traded at $1.3450, with a volume of 1,072,670 shares trading hands.

Analysts Set New Price Targets

Several brokerages recently issued reports on ADCT. Weiss Ratings reissued a “sell (d-)” rating on shares of ADC Therapeutics in a research note on Thursday, October 15th. Guggenheim decreased their price objective on ADC Therapeutics to $5.00 and set a “buy” rating for the company in a research report on Monday, August 17th. Finally, Wall Street Zen raised ADC Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $5.00.

ADC Therapeutics Stock Performance

The business’s 50 day simple moving average is $1.39 and its 200-day simple moving average is $2.38. The company has a market cap of $189.19 million, a price-to-earnings ratio of -2.59 and a beta of 1.82.

ADC Therapeutics (NYSE:ADCT) last posted its quarterly earnings results on Monday, November 9th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.05. The company had revenue of $21.72 million for the quarter, compared to analysts’ expectations of $18.70 million. During the same quarter in the prior year, the firm earned ($0.30) earnings per share. Research analysts expect that ADC Therapeutics SA will post -0.80 earnings per share for the current year.

Institutional Trading of ADC Therapeutics

A number of institutional investors have recently bought and sold shares of the company. Nantahala Capital Management LLC grew its stake in ADC Therapeutics by 2.0% in the third quarter. Nantahala Capital Management LLC now owns 12,576,184 shares of the company’s stock valued at $15,343,000 after purchasing an additional 250,000 shares in the last quarter. AIGH Capital Management LLC acquired a new position in ADC Therapeutics in the 3rd quarter worth about $5,276,000. Bank of America Corp DE increased its position in ADC Therapeutics by 2.0% in the 1st quarter. Bank of America Corp DE now owns 1,325,017 shares of the company’s stock worth $4,969,000 after purchasing an additional 26,433 shares during the last quarter. Renaissance Technologies LLC acquired a new position in ADC Therapeutics in the 1st quarter worth about $1,122,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of ADC Therapeutics during the 1st quarter worth about $985,000. Institutional investors and hedge funds own 41.10% of the company’s stock.

About ADC Therapeutics

ADC Therapeutics is a biotechnology company headquartered in Epalinges, Switzerland. It develops antibody-drug conjugates (ADCs), medicines designed to use antibodies to deliver cell-killing agents to cancer cells. Its research has focused on blood cancers and solid tumors. The company’s lead product, ZYNLONTA (loncastuximab tesirine-lpyl), is an ADC that targets CD19. In the United States, it is approved for adults with relapsed or refractory large B-cell lymphoma after they have received two or more prior systemic treatments.