ADC Therapeutics (NYSE:ADCT) Trading Up 6.5% – Should You Buy?

by · The Cerbat Gem

ADC Therapeutics SA (NYSE:ADCT – Get Free Report)’s stock price was up 6.5% during mid-day trading on Tuesday . The company traded as high as $4.42 and last traded at $4.5150. Approximately 476,675 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 671,412 shares. The stock had previously closed at $4.24.

Analyst Ratings Changes

Several research analysts have recently commented on ADCT shares. Weiss Ratings restated a “sell (d-)” rating on shares of ADC Therapeutics in a research report on Wednesday, October 8th. Guggenheim reissued a “buy” rating and issued a $10.00 price objective on shares of ADC Therapeutics in a research note on Wednesday, November 12th. Wall Street Zen upgraded ADC Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, HC Wainwright cut their price target on ADC Therapeutics from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, October 16th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $7.50.

Get Our Latest Stock Report on ADC Therapeutics

ADC Therapeutics Stock Performance

The firm’s 50-day moving average is $4.14 and its two-hundred day moving average is $3.43. The stock has a market cap of $565.51 million, a P/E ratio of -3.15 and a beta of 1.89.

ADC Therapeutics (NYSE:ADCT – Get Free Report) last released its earnings results on Monday, November 10th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.10. The firm had revenue of $16.43 million during the quarter, compared to analyst estimates of $17.08 million. As a group, research analysts forecast that ADC Therapeutics SA will post -1.69 EPS for the current year.

Institutional Investors Weigh In On ADC Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Atria Wealth Solutions Inc. acquired a new stake in ADC Therapeutics during the 1st quarter worth $28,000. Russell Investments Group Ltd. grew its stake in shares of ADC Therapeutics by 136.3% during the first quarter. Russell Investments Group Ltd. now owns 39,688 shares of the company’s stock worth $56,000 after purchasing an additional 22,894 shares during the period. R Squared Ltd acquired a new position in ADC Therapeutics in the third quarter valued at about $59,000. MetLife Investment Management LLC boosted its holdings in ADC Therapeutics by 46.2% during the first quarter. MetLife Investment Management LLC now owns 45,487 shares of the company’s stock worth $64,000 after buying an additional 14,370 shares during the last quarter. Finally, Creative Planning acquired a new position in shares of ADC Therapeutics during the 2nd quarter worth about $96,000. 41.10% of the stock is owned by institutional investors.

ADC Therapeutics Company Profile

(Get Free Report)

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.

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