ADC Therapeutics (NYSE:ADCT) Shares Up 11.8% – Still a Buy?

ADC Therapeutics SA (NYSE:ADCT) rose 11.8% during trading on Wednesday . The stock traded as high as $4.20 and last traded at $4.3140. Approximately 1,743,093 shares traded hands during mid-day trading, an increase of 114% from the average daily volume of 815,482 shares. The stock had previously closed at $3.86.

Analysts Set New Price Targets

ADCT has been the subject of several recent research reports. HC Wainwright increased their price objective on ADC Therapeutics from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Monday, March 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ADC Therapeutics in a research note on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, ADC Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $7.67.

ADC Therapeutics Stock Performance

The firm has a market capitalization of $549.37 million, a price-to-earnings ratio of -3.60 and a beta of 1.94. The business has a 50 day simple moving average of $4.04 and a 200-day simple moving average of $3.98.

ADC Therapeutics (NYSE:ADCT) last issued its earnings results on Saturday, February 14th. The company reported ($0.09) earnings per share (EPS) for the quarter. The business had revenue of $23.06 million during the quarter. Equities analysts predict that ADC Therapeutics SA will post -1.69 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Redmile Group, Llc sold 2,634,506 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was 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 of the company’s stock, valued at approximately $41,546,877.68. This trade represents a 17.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 5,880,415 shares of company stock worth $19,641,067. 5.40% of the stock is currently owned by company insiders.

Institutional Trading of ADC Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Engineers Gate Manager LP acquired a new stake in shares of ADC Therapeutics during the 4th quarter worth about $43,000. ProShare Advisors LLC increased its position in shares of ADC Therapeutics by 27.0% during the 4th quarter. ProShare Advisors LLC now owns 15,727 shares of the company’s stock worth $56,000 after purchasing an additional 3,339 shares during the last quarter. AXQ Capital LP acquired a new stake in shares of ADC Therapeutics during the 4th quarter worth about $57,000. R Squared Ltd acquired a new stake in shares of ADC Therapeutics during the 3rd quarter worth about $59,000. Finally, Henrickson Nauta Wealth Advisors Inc. acquired a new stake in shares of ADC Therapeutics during the 4th quarter worth about $69,000. 41.10% of the stock is 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.