ADC Therapeutics SA (NYSE:ADCT) Given Average Rating of “Moderate Buy” by Analysts

Shares of ADC Therapeutics SA (NYSE:ADCT) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $7.25.

A number of equities analysts have weighed in on ADCT shares. Guggenheim reaffirmed a “buy” rating on shares of ADC Therapeutics in a research note on Friday, April 5th. Cantor Fitzgerald assumed coverage on ADC Therapeutics in a report on Thursday, May 30th. They issued an “overweight” rating on the stock. HC Wainwright lowered their price target on ADC Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $8.00 price objective on shares of ADC Therapeutics in a report on Thursday, March 14th.

Insider Buying and Selling

In other ADC Therapeutics news, CEO Ameet Mallik sold 29,731 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $4.48, for a total value of $133,194.88. Following the transaction, the chief executive officer now directly owns 1,167,348 shares of the company’s stock, valued at $5,229,719.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.05% of the stock is owned by corporate insiders.

Institutional Trading of ADC Therapeutics

Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC grew its holdings in ADC Therapeutics by 613.8% during the 3rd quarter. Acadian Asset Management LLC now owns 156,048 shares of the company’s stock valued at $138,000 after purchasing an additional 134,186 shares in the last quarter. Affinity Asset Advisors LLC grew its stake in shares of ADC Therapeutics by 83.3% during the third quarter. Affinity Asset Advisors LLC now owns 1,100,000 shares of the company’s stock valued at $987,000 after acquiring an additional 500,000 shares in the last quarter. Redmile Group LLC increased its position in shares of ADC Therapeutics by 0.9% during the third quarter. Redmile Group LLC now owns 14,178,045 shares of the company’s stock worth $12,718,000 after acquiring an additional 128,110 shares during the last quarter. Saxony Capital Management LLC acquired a new position in shares of ADC Therapeutics in the fourth quarter worth about $34,000. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in ADC Therapeutics by 7.1% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 70,636 shares of the company’s stock valued at $317,000 after purchasing an additional 4,700 shares during the last quarter. Institutional investors and hedge funds own 41.10% of the company’s stock.

ADC Therapeutics Stock Up 12.5 %

Shares of NYSE:ADCT opened at $3.16 on Monday. The company has a market cap of $261.58 million, a P/E ratio of -1.15 and a beta of 1.61. The business has a fifty day simple moving average of $3.74 and a 200-day simple moving average of $3.62. ADC Therapeutics has a 52 week low of $0.36 and a 52 week high of $6.04.

ADC Therapeutics (NYSE:ADCT) last posted its quarterly earnings results on Monday, May 6th. The company reported ($0.56) EPS for the quarter, meeting the consensus estimate of ($0.56). The company had revenue of $18.05 million during the quarter, compared to analysts’ expectations of $18.19 million. ADC Therapeutics had a negative return on equity of 1,313.37% and a negative net margin of 330.17%. During the same quarter in the previous year, the business earned ($0.74) EPS. Sell-side analysts expect that ADC Therapeutics will post -1.92 earnings per share for the current fiscal year.

About ADC Therapeutics

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.