ADC Therapeutics (NYSE:ADCT) Downgraded to “Sell” Rating by Wall Street Zen

ADC Therapeutics (NYSE:ADCT) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

ADCT has been the topic of several other reports. Guggenheim reissued a “buy” rating and issued a $10.00 price objective on shares of ADC Therapeutics in a research note on Wednesday. Royal Bank Of Canada raised shares of ADC Therapeutics from an “outperform” rating to a “moderate buy” rating and dropped their price objective for the company from $8.00 to $5.00 in a research note on Friday, June 20th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, ADC Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $7.75.

ADC Therapeutics Price Performance

Shares of ADCT stock opened at $3.14 on Friday. The firm has a market cap of $353.25 million, a PE ratio of -2.00 and a beta of 1.92. The company has a 50-day moving average of $3.02 and a two-hundred day moving average of $2.16. ADC Therapeutics has a 1-year low of $1.05 and a 1-year high of $3.97.

ADC Therapeutics (NYSE:ADCT) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.14). The firm had revenue of $18.84 million for the quarter, compared to analyst estimates of $17.82 million. Sell-side analysts anticipate that ADC Therapeutics will post -1.69 EPS for the current fiscal year.

Institutional Investors Weigh In On ADC Therapeutics

Several institutional investors have recently bought and sold shares of ADCT. LPL Financial LLC acquired a new stake in ADC Therapeutics in the fourth quarter worth about $50,000. Geode Capital Management LLC boosted its position in shares of ADC Therapeutics by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 963,109 shares of the company’s stock valued at $1,917,000 after purchasing an additional 9,938 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of ADC Therapeutics by 39.4% in the 4th quarter. Wells Fargo & Company MN now owns 41,832 shares of the company’s stock worth $83,000 after purchasing an additional 11,834 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of ADC Therapeutics by 122.6% in the 4th quarter. Russell Investments Group Ltd. now owns 16,794 shares of the company’s stock worth $33,000 after purchasing an additional 9,248 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of ADC Therapeutics by 10.8% in the 4th quarter. Barclays PLC now owns 141,495 shares of the company’s stock worth $282,000 after purchasing an additional 13,756 shares during the last quarter. Institutional investors and hedge funds own 41.10% of the company’s stock.

About ADC Therapeutics

ADC Therapeutics SA focuses on advancing its proprietary antibody drug conjugate (ADC) technology platform to transform the treatment paradigm for patients with hematologic malignancies and solid tumors. Its flagship product is ZYNLONTA, a CD19-directed ADC, received accelerated approval from the U.S.