ADC Therapeutics SA (NYSE:ADCT) Stock Rated “Hold” by Sell-Side Brokerages

ADC Therapeutics SA (NYSE:ADCT) has been assigned a consensus rating of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $5.00.

ADCT has been the subject of a number of analyst reports. Wall Street Zen raised shares of ADC Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Guggenheim decreased their price objective on shares of ADC Therapeutics to $5.00 and set a “buy” rating on the stock in a research report on Monday, August 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ADC Therapeutics in a research note on Thursday, October 15th.

Institutional Investors Weigh In On ADC Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Opaleye Management Inc. purchased a new stake in shares of ADC Therapeutics during the second quarter worth about $749,000. AIGH Capital Management LLC purchased a new position in ADC Therapeutics in the 3rd quarter worth approximately $5,276,000. Simplex Trading LLC lifted its holdings in ADC Therapeutics by 150.6% in the 3rd quarter. Simplex Trading LLC now owns 26,557 shares of the company’s stock worth $32,000 after purchasing an additional 15,960 shares in the last quarter. AXQ Capital LP purchased a new position in ADC Therapeutics in the 2nd quarter worth approximately $29,000. Finally, Bank of America Corp DE lifted its holdings in ADC Therapeutics by 2.0% in the 1st quarter. Bank of America Corp DE now owns 1,325,017 shares of the company’s stock worth $4,969,000 after purchasing an additional 26,433 shares in the last quarter. 41.10% of the stock is owned by institutional investors.

ADC Therapeutics Trading Down 4.0%

Shares of NYSE:ADCT opened at $1.57 on Friday. The stock has a 50 day moving average of $1.36 and a 200 day moving average of $2.43. The company has a market cap of $201.08 million, a PE ratio of -2.39 and a beta of 1.82. ADC Therapeutics has a 12-month low of $0.78 and a 12-month high of $4.98.

ADC Therapeutics (NYSE:ADCT) last released its earnings results on Thursday, August 13th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.11. The firm had revenue of $19.25 million for the quarter, compared to the consensus estimate of $18.89 million. Equities research analysts predict that ADC Therapeutics will post -0.80 earnings per share for the current fiscal year.

ADC Therapeutics Company Profile

ADC Therapeutics SA (NYSE: ADCT) is a biotechnology company focused on developing and commercializing antibody-drug conjugates (ADCs) for the treatment of cancer. Its ADC platform is designed to combine monoclonal antibodies that target specific tumor-associated antigens with potent cytotoxic payloads, with the goal of selectively delivering treatment to cancer cells while limiting exposure to healthy tissue.

The company’s lead product is Zynlonta (loncastuximab tesirine-lpyl), an ADC directed against the CD19 antigen.