ADC Therapeutics (NYSE:ADCT) Stock Price Up 0.4% – Should You Buy?

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

Wall Street Analyst Weigh In

ADCT has been the topic of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $8.00 target price on shares of ADC Therapeutics in a research note on Tuesday, May 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ADC Therapeutics in a research note on Monday, April 20th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $6.00 target price on shares of ADC Therapeutics in a research note on Tuesday, May 5th. Three investment 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, ADC Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $8.00.

ADC Therapeutics Price Performance

The business’s 50 day simple moving average is $3.73 and its 200 day simple moving average is $3.86. The company has a market capitalization of $434.36 million, a PE ratio of -3.25 and a beta of 1.83.

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

Insider Buying and Selling at ADC Therapeutics

In other ADC Therapeutics news, major shareholder Redmile Group, Llc sold 2,634,506 shares of ADC Therapeutics stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $3.28, for a total transaction of $8,641,179.68. Following the completion of the sale, the insider directly owned 12,666,731 shares in the company, valued at $41,546,877.68. This trade represents a 17.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 5,880,415 shares of company stock worth $19,641,067 in the last ninety days. 5.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On ADC Therapeutics

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in shares of ADC Therapeutics by 865.3% in the third quarter. JPMorgan Chase & Co. now owns 330,597 shares of the company’s stock valued at $1,322,000 after purchasing an additional 296,350 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of ADC Therapeutics by 15.2% in the third quarter. BNP Paribas Financial Markets now owns 688,471 shares of the company’s stock valued at $2,754,000 after purchasing an additional 90,679 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of ADC Therapeutics by 6.0% in the third quarter. Vanguard Group Inc. now owns 593,954 shares of the company’s stock valued at $2,376,000 after purchasing an additional 33,431 shares in the last quarter. Barclays PLC grew its holdings in shares of ADC Therapeutics by 23.7% in the fourth quarter. Barclays PLC now owns 161,386 shares of the company’s stock valued at $570,000 after purchasing an additional 30,926 shares in the last quarter. Finally, Creative Planning grew its holdings in shares of ADC Therapeutics by 196.3% in the third quarter. Creative Planning now owns 106,651 shares of the company’s stock valued at $427,000 after purchasing an additional 70,652 shares in the last quarter. 41.10% of the stock is currently owned by institutional investors and hedge funds.

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.