ADC Therapeutics SA (NYSE:ADCT) Given Average Recommendation of “Hold” by Analysts

Shares of ADC Therapeutics SA (NYSE:ADCT) have been assigned an average rating of “Hold” from the six research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $5.00.

A number of brokerages recently weighed in on ADCT. Wall Street Zen raised shares of ADC Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. Royal Bank Of Canada cut shares of ADC Therapeutics from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $6.00 to $2.00 in a report on Thursday, June 4th. Stephens restated an “overweight” rating and issued a $5.00 target price on shares of ADC Therapeutics in a research note on Thursday, June 4th. HC Wainwright lowered ADC Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, June 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of ADC Therapeutics in a research report on Thursday, June 4th.

ADC Therapeutics Price Performance

ADC Therapeutics stock opened at $1.09 on Tuesday. ADC Therapeutics has a 12 month low of $0.78 and a 12 month high of $4.98. The company has a fifty day moving average price of $1.15 and a two-hundred day moving average price of $2.85. The company has a market cap of $138.64 million, a PE ratio of -1.65 and a beta of 1.89.

ADC Therapeutics (NYSE:ADCT) last issued its earnings results on Thursday, August 13th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.11. The business had revenue of $19.25 million for the quarter, compared to analyst estimates of $18.89 million. Equities research analysts anticipate that ADC Therapeutics will post -0.88 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ADCT. Revolve Wealth Partners LLC acquired a new stake in ADC Therapeutics in the second quarter worth $107,000. Bank of America Corp DE boosted its holdings in shares of ADC Therapeutics by 2.0% during the first 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 boosted its holdings in shares of ADC Therapeutics by 36.0% during the first 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. Lazard Asset Management LLC bought a new position in shares of ADC Therapeutics during the first quarter worth about $985,000. Finally, Renaissance Technologies LLC bought a new position in shares of ADC Therapeutics during the first quarter worth about $1,122,000. 41.10% of the stock is currently owned by institutional investors.

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.