ADC Therapeutics (NYSE:ADCT) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of ADC Therapeutics (NYSE:ADCT) from a sell rating to a hold rating in a report issued on Saturday.

Several other research analysts also recently issued reports on the stock. HC Wainwright downgraded shares of ADC Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, June 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of ADC Therapeutics in a report on Thursday, June 4th. Stephens restated an “overweight” rating and set a $5.00 price objective on shares of ADC Therapeutics in a research report on Thursday, June 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ADC Therapeutics in a report on Friday, July 17th. Finally, Royal Bank Of Canada downgraded ADC Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $6.00 to $2.00 in a research report on Thursday, June 4th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, ADC Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $6.25.

ADC Therapeutics Price Performance

ADCT stock opened at $1.00 on Friday. The company has a 50 day simple moving average of $1.15 and a 200 day simple moving average of $2.88. The stock has a market cap of $127.83 million, a price-to-earnings ratio of -1.52 and a beta of 1.89. ADC Therapeutics has a 1 year low of $0.78 and a 1 year high of $4.98.

ADC Therapeutics (NYSE:ADCT) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.11. The company had revenue of $19.25 million during the quarter, compared to the consensus estimate of $18.89 million. On average, equities research analysts anticipate that ADC Therapeutics will post -0.88 EPS for the current fiscal year.

Hedge Funds Weigh In On ADC Therapeutics

Several large investors have recently modified their holdings of the business. Eventide Asset Management LLC acquired a new position in shares of ADC Therapeutics during the fourth quarter worth $11,875,000. Nantahala Capital Management LLC increased its holdings in ADC Therapeutics by 141.6% in the fourth quarter. Nantahala Capital Management LLC now owns 5,475,433 shares of the company’s stock valued at $19,328,000 after purchasing an additional 3,209,144 shares during the period. TCG Crossover Management LLC acquired a new stake in ADC Therapeutics in the third quarter valued at $5,561,000. Lynx1 Capital Management LP bought a new position in ADC Therapeutics during the 3rd quarter worth $5,303,000. Finally, Prosight Management LP raised its position in ADC Therapeutics by 13.5% during the 4th quarter. Prosight Management LP now owns 8,477,338 shares of the company’s stock worth $29,925,000 after purchasing an additional 1,005,035 shares during the last quarter. Institutional investors own 41.10% of the company’s stock.

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.