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

ADC Therapeutics SA (NYSE:ADCT) has received an average recommendation of “Hold” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $5.00.

Several research analysts recently commented on ADCT shares. Wall Street Zen raised ADC Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Guggenheim dropped their price objective on ADC Therapeutics to $5.00 and set a “buy” rating on the stock in a research note on Monday, August 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ADC Therapeutics in a report on Thursday, October 15th.

ADC Therapeutics Price Performance

Shares of NYSE ADCT opened at $1.52 on Friday. The stock has a market capitalization of $194.70 million, a price-to-earnings ratio of -2.31 and a beta of 1.86. The business has a 50-day moving average of $1.30 and a 200-day moving average of $2.48. ADC Therapeutics has a fifty-two week low of $0.78 and a fifty-two week high of $4.98.

ADC Therapeutics (NYSE:ADCT) last released its earnings results on Thursday, August 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.11. The company had revenue of $19.25 million during the quarter, compared to analyst estimates of $18.89 million. On average, sell-side analysts expect that ADC Therapeutics will post -0.80 EPS for the current year.

Institutional Trading of ADC Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Opaleye Management Inc. bought a new stake in ADC Therapeutics during the second quarter worth $749,000. AXQ Capital LP acquired a new stake in ADC Therapeutics in the second quarter valued at $29,000. Bank of America Corp DE grew its position in shares of 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 valued at $4,969,000 after acquiring an additional 26,433 shares during the period. Quantinno Capital Management LP grew its position in shares of ADC Therapeutics by 36.0% in the 1st quarter. Quantinno Capital Management LP now owns 14,719 shares of the company’s stock valued at $55,000 after acquiring an additional 3,894 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in ADC Therapeutics during the first quarter worth approximately $1,122,000. 41.10% of the stock is owned by institutional investors.

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.