ADC Therapeutics SA (NYSE:ADCT) Sees Significant Decrease in Short Interest

ADC Therapeutics SA (NYSE:ADCT) saw a significant decrease in short interest in December. As of December 31st, there was short interest totaling 3,573,570 shares, a decrease of 47.2% from the December 15th total of 6,773,739 shares. Based on an average daily volume of 1,102,854 shares, the short-interest ratio is presently 3.2 days. Approximately 3.0% of the company’s shares are sold short. Approximately 3.0% of the company’s shares are sold short. Based on an average daily volume of 1,102,854 shares, the short-interest ratio is presently 3.2 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. R Squared Ltd purchased a new stake in shares of ADC Therapeutics during the 3rd quarter worth approximately $59,000. Henrickson Nauta Wealth Advisors Inc. acquired a new stake in ADC Therapeutics during the fourth quarter worth approximately $69,000. SG Americas Securities LLC purchased a new stake in ADC Therapeutics in the 4th quarter worth approximately $86,000. Russell Investments Group Ltd. lifted its stake in shares of ADC Therapeutics by 31.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 32,502 shares of the company’s stock worth $130,000 after purchasing an additional 7,701 shares during the period. Finally, Creative Planning acquired a new stake in shares of ADC Therapeutics during the second quarter worth $96,000. Institutional investors and hedge funds own 41.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ADCT has been the subject of a number of research reports. 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 restated a “sell (d-)” rating on shares of ADC Therapeutics in a report on Wednesday, October 8th. Guggenheim reaffirmed a “buy” rating and issued a $10.00 target price on shares of ADC Therapeutics in a research report on Wednesday, November 12th. Wall Street Zen raised shares of ADC Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, HC Wainwright lowered their price objective on shares of ADC Therapeutics from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

ADC Therapeutics Price Performance

Shares of ADC Therapeutics stock traded up $0.06 on Friday, reaching $3.61. 754,248 shares of the company were exchanged, compared to its average volume of 735,053. The stock’s 50 day moving average price is $3.84 and its 200-day moving average price is $3.61. ADC Therapeutics has a 1-year low of $1.05 and a 1-year high of $4.80. The company has a market cap of $447.21 million, a P/E ratio of -2.49 and a beta of 1.95.

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

About ADC Therapeutics

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.