ADC Therapeutics SA (NYSE:ADCT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

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

A number of research firms have recently issued reports on ADCT. Cantor Fitzgerald began coverage on shares of ADC Therapeutics in a research note 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $8.00 price objective on shares of ADC Therapeutics in a research note on Thursday, March 14th. Finally, Guggenheim restated a “buy” rating on shares of ADC Therapeutics in a report on Friday, April 5th.

ADC Therapeutics Stock Performance

Shares of ADC Therapeutics stock opened at $3.16 on Monday. The stock has a 50 day moving average of $3.74 and a 200 day moving average of $3.62. The firm has a market capitalization of $261.58 million, a price-to-earnings ratio of -1.15 and a beta of 1.61. ADC Therapeutics has a fifty-two week low of $0.36 and a fifty-two week high of $6.04.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings results on Monday, May 6th. The company reported ($0.56) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.56). The business 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 period in the prior year, the business posted ($0.74) EPS. Analysts forecast that ADC Therapeutics will post -1.92 EPS for the current year.

Insider Buying and Selling

In other ADC Therapeutics news, CEO Ameet Mallik sold 29,731 shares of the 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 sale, the chief executive officer now owns 1,167,348 shares of the company’s stock, valued at approximately $5,229,719.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ADC Therapeutics

Large investors have recently modified their holdings of the company. Saxony Capital Management LLC acquired a new position in shares of ADC Therapeutics during the fourth quarter worth $34,000. Hennion & Walsh Asset Management Inc. boosted its position in shares of ADC Therapeutics by 7.1% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 70,636 shares of the company’s stock worth $317,000 after acquiring an additional 4,700 shares in the last quarter. Sanibel Captiva Trust Company Inc. purchased a new position in shares of ADC Therapeutics in the 1st quarter valued at about $462,000. Acadian Asset Management LLC raised its position in shares of ADC Therapeutics by 613.8% during the 3rd quarter. Acadian Asset Management LLC now owns 156,048 shares of the company’s stock worth $138,000 after acquiring an additional 134,186 shares in the last quarter. Finally, Affinity Asset Advisors LLC lifted its stake in ADC Therapeutics by 83.3% during the third quarter. Affinity Asset Advisors LLC now owns 1,100,000 shares of the company’s stock worth $987,000 after purchasing an additional 500,000 shares during the last quarter. 41.10% of the stock is owned by hedge funds and other institutional investors.

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.