Short Interest in ADC Therapeutics SA (NYSE:ADCT) Expands By 18.0%

ADC Therapeutics SA (NYSE:ADCT) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 4,860,000 shares, a growth of 18.0% from the December 15th total of 4,120,000 shares. Based on an average trading volume of 865,500 shares, the days-to-cover ratio is currently 5.6 days.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ADCT shares. Stephens started coverage on shares of ADC Therapeutics in a report on Friday, November 8th. They issued an “overweight” rating and a $6.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of ADC Therapeutics in a report on Monday, January 6th. Finally, Guggenheim reiterated a “buy” rating and set a $10.00 price objective on shares of ADC Therapeutics in a report on Thursday, December 12th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $8.00.

ADC Therapeutics Price Performance

ADC Therapeutics stock traded up $0.07 during mid-day trading on Friday, reaching $1.82. 548,927 shares of the company traded hands, compared to its average volume of 824,413. The company has a market capitalization of $175.49 million, a price-to-earnings ratio of -0.76 and a beta of 1.55. ADC Therapeutics has a fifty-two week low of $1.68 and a fifty-two week high of $6.04. The firm’s fifty day moving average is $2.16 and its two-hundred day moving average is $2.77.

ADC Therapeutics (NYSE:ADCT) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.06). The business had revenue of $18.46 million during the quarter, compared to analyst estimates of $18.76 million. During the same quarter in the previous year, the firm posted ($0.58) EPS. As a group, equities research analysts predict that ADC Therapeutics will post -1.69 earnings per share for the current year.

Insider Activity at ADC Therapeutics

In related news, major shareholder Redmile Group, Llc acquired 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average cost of $3.04 per share, for a total transaction of $304,000.00. Following the purchase, the insider now directly owns 13,145,712 shares of the company’s stock, valued at $39,962,964.48. This trade represents a 0.77 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ADC Therapeutics

A number of institutional investors have recently bought and sold shares of ADCT. Redmile Group LLC boosted its stake in shares of ADC Therapeutics by 2.6% in the third quarter. Redmile Group LLC now owns 15,669,217 shares of the company’s stock worth $49,358,000 after buying an additional 400,000 shares during the last quarter. State Street Corp increased its holdings in shares of ADC Therapeutics by 11.6% during the 3rd quarter. State Street Corp now owns 1,106,011 shares of the company’s stock valued at $3,484,000 after purchasing an additional 114,715 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of ADC Therapeutics by 15.6% in the 3rd quarter. Geode Capital Management LLC now owns 953,171 shares of the company’s stock valued at $3,002,000 after purchasing an additional 128,454 shares during the period. Affinity Asset Advisors LLC purchased a new stake in ADC Therapeutics during the second quarter worth $1,500,000. Finally, Bank of New York Mellon Corp acquired a new stake in ADC Therapeutics during the second quarter valued at $648,000. 41.10% of the stock is owned by hedge funds and other institutional investors.

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.