ADC Therapeutics (NYSE:ADCT) Sees Strong Trading Volume – What’s Next?

ADC Therapeutics SA (NYSE:ADCT) saw unusually-strong trading volume on Monday . Approximately 1,839,645 shares traded hands during trading, an increase of 144% from the previous session’s volume of 754,408 shares.The stock last traded at $4.2150 and had previously closed at $4.23.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ADCT shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of ADC Therapeutics in a research note on Wednesday, December 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ADC Therapeutics in a research report on Wednesday, October 8th. Wall Street Zen raised shares of ADC Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. 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. Finally, HC Wainwright dropped their target price on ADC Therapeutics from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

ADC Therapeutics Trading Down 6.9%

The stock has a market cap of $457.74 million, a price-to-earnings ratio of -2.55 and a beta of 1.89. The stock has a 50-day moving average price of $4.14 and a two-hundred day moving average price of $3.54.

ADC Therapeutics (NYSE:ADCT) last announced its earnings results on Monday, November 10th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.10. The business had revenue of $16.43 million for the quarter, compared to analyst estimates of $17.08 million. Research analysts predict that ADC Therapeutics SA will post -1.69 earnings per share for the current fiscal year.

Institutional Trading of ADC Therapeutics

A number of institutional investors have recently bought and sold shares of ADCT. Russell Investments Group Ltd. raised its holdings in shares of ADC Therapeutics by 31.1% in the third quarter. Russell Investments Group Ltd. now owns 32,502 shares of the company’s stock worth $130,000 after buying an additional 7,701 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of ADC Therapeutics by 46.2% in the 1st quarter. MetLife Investment Management LLC now owns 45,487 shares of the company’s stock valued at $64,000 after acquiring an additional 14,370 shares during the period. R Squared Ltd purchased a new position in ADC Therapeutics in the 3rd quarter worth $59,000. Vanguard Group Inc. lifted its position in ADC Therapeutics by 6.0% during the 3rd quarter. Vanguard Group Inc. now owns 593,954 shares of the company’s stock worth $2,376,000 after acquiring an additional 33,431 shares during the period. Finally, Creative Planning purchased a new stake in ADC Therapeutics during the 2nd quarter valued at about $96,000. 41.10% of the stock is currently owned by institutional investors and hedge funds.

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.