ADC Therapeutics (NYSE:ADCT) Posts Earnings Results, Beats Expectations By $0.23 EPS

ADC Therapeutics (NYSE:ADCT) issued its earnings results on Tuesday. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.23, FiscalAI reports.

ADC Therapeutics Stock Up 2.4%

NYSE:ADCT opened at $4.21 on Tuesday. The firm has a market capitalization of $521.41 million, a P/E ratio of -2.90 and a beta of 1.91. The company has a fifty day moving average of $3.87 and a 200 day moving average of $3.86. ADC Therapeutics has a 52 week low of $1.05 and a 52 week high of $4.80.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP purchased a new position in shares of ADC Therapeutics during the fourth quarter worth approximately $43,000. Creative Planning acquired a new stake in shares of ADC Therapeutics in the 2nd quarter worth $96,000. Russell Investments Group Ltd. increased its holdings in ADC Therapeutics by 31.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 32,502 shares of the company’s stock valued at $130,000 after purchasing an additional 7,701 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of ADC Therapeutics by 25.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 46,750 shares of the company’s stock worth $166,000 after buying an additional 9,537 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in shares of ADC Therapeutics by 65.3% in the 4th quarter. MetLife Investment Management LLC now owns 49,682 shares of the company’s stock valued at $175,000 after purchasing an additional 19,633 shares during the last quarter. Hedge funds and other institutional investors own 41.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $5.00 target price on shares of ADC Therapeutics in a research report on Wednesday, December 3rd. Wall Street Zen raised ADC Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of ADC Therapeutics in a research report on Wednesday, January 21st. Finally, Guggenheim restated a “buy” rating and issued a $10.00 price objective on shares of ADC Therapeutics in a report on Wednesday, November 12th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $7.33.

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.