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

ADC Therapeutics SA (NYSE:ADCT) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 4,860,000 shares, an increase of 18.0% from the December 15th total of 4,120,000 shares. Based on an average daily trading volume, of 865,500 shares, the short-interest ratio is presently 5.6 days.

ADC Therapeutics Trading Up 3.7 %

NYSE:ADCT traded up $0.07 during midday trading on Friday, hitting $1.82. 548,927 shares of the company traded hands, compared to its average volume of 824,413. The firm’s fifty day moving average is $2.16 and its 200-day moving average is $2.77. The firm has a market capitalization of $175.49 million, a P/E ratio of -0.76 and a beta of 1.55. ADC Therapeutics has a 12-month low of $1.68 and a 12-month high of $6.04.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.06). The company had revenue of $18.46 million for the quarter, compared to analysts’ expectations of $18.76 million. During the same period in the previous year, the company posted ($0.58) earnings per share. On average, research analysts expect that ADC Therapeutics will post -1.69 EPS for the current fiscal year.

Insider Buying and Selling at ADC Therapeutics

In related news, major shareholder Redmile Group, Llc sold 25,352 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $2.07, for a total value of $52,478.64. Following the transaction, the insider now directly owns 15,566,731 shares of the company’s stock, valued at approximately $32,223,133.17. This trade represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On ADC Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Susquehanna Fundamental Investments LLC purchased a new position in ADC Therapeutics during the 2nd quarter valued at $33,000. Intech Investment Management LLC bought a new position in shares of ADC Therapeutics in the third quarter worth about $41,000. Acadian Asset Management LLC purchased a new position in ADC Therapeutics in the 2nd quarter worth about $51,000. Readystate Asset Management LP bought a new stake in ADC Therapeutics during the 3rd quarter valued at about $54,000. Finally, SG Americas Securities LLC boosted its position in ADC Therapeutics by 35.6% in the 4th quarter. SG Americas Securities LLC now owns 36,140 shares of the company’s stock valued at $72,000 after buying an additional 9,483 shares during the period. 41.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ADCT. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 target price on shares of ADC Therapeutics in a report on Monday, January 6th. Guggenheim reaffirmed a “buy” rating and issued a $10.00 price objective on shares of ADC Therapeutics in a research note on Thursday, December 12th. Finally, Stephens initiated coverage on shares of ADC Therapeutics in a research note on Friday, November 8th. They issued an “overweight” rating and a $6.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $8.00.

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.