ADC Therapeutics (NYSE:ADCT) Trading Up 0.4% – Time to Buy?

ADC Therapeutics SA (NYSE:ADCT) shares were up 0.4% during mid-day trading on Thursday . The company traded as high as $3.46 and last traded at $3.4450. Approximately 454,455 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 1,136,158 shares. The stock had previously closed at $3.43.

Analyst Ratings Changes

A number of analysts have issued reports on ADCT shares. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 target price on shares of ADC Therapeutics in a report on Tuesday, May 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ADC Therapeutics in a research report on Monday, April 20th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $6.00 price objective on shares of ADC Therapeutics in a research report on Tuesday, May 5th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

ADC Therapeutics Stock Performance

The stock has a 50-day simple moving average of $3.74 and a 200 day simple moving average of $3.86. The company has a market cap of $438.17 million, a P/E ratio of -3.28 and a beta of 1.83.

ADC Therapeutics (NYSE:ADCT) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The business had revenue of $20.85 million during the quarter, compared to the consensus estimate of $19.99 million. During the same period in the prior year, the company earned ($0.36) EPS. Sell-side analysts anticipate that ADC Therapeutics SA will post -0.88 earnings per share for the current fiscal year.

Insider Activity at ADC Therapeutics

In related news, major shareholder Redmile Group, Llc sold 2,634,506 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $3.28, for a total transaction of $8,641,179.68. Following the completion of the transaction, the insider owned 12,666,731 shares in the company, valued at $41,546,877.68. This trade represents a 17.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 5,880,415 shares of company stock valued at $19,641,067. 5.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ADC Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of ADCT. R Squared Ltd bought a new position in shares of ADC Therapeutics during the 1st quarter worth approximately $38,000. Engineers Gate Manager LP bought a new position in shares of ADC Therapeutics during the 4th quarter worth approximately $43,000. Quantinno Capital Management LP lifted its position in shares of ADC Therapeutics by 36.0% during the 1st quarter. Quantinno Capital Management LP now owns 14,719 shares of the company’s stock worth $55,000 after buying an additional 3,894 shares during the period. ProShare Advisors LLC lifted its position in shares of ADC Therapeutics by 27.0% during the 4th quarter. ProShare Advisors LLC now owns 15,727 shares of the company’s stock worth $56,000 after buying an additional 3,339 shares during the period. Finally, AXQ Capital LP bought a new position in shares of ADC Therapeutics during the 4th quarter worth approximately $57,000. Institutional investors own 41.10% of the company’s stock.

ADC Therapeutics Company Profile

ADC Therapeutics SA is a clinical-stage biopharmaceutical company focused on the discovery and development of highly targeted antibody-drug conjugates (ADCs) designed to treat hematological malignancies such as non-Hodgkin lymphoma and acute myeloid leukemia. By marrying the specificity of monoclonal antibodies with potent cytotoxic payloads, the company aims to maximize tumor cell eradication while limiting off-target toxicity.

At the core of ADC Therapeutics’ portfolio is loncastuximab tesirine-lpyl, a CD19-directed ADC that received accelerated approval from the U.S.