ADC Therapeutics (NYSE:ADCT) Shares Gap Up on Analyst Upgrade

Shares of ADC Therapeutics SA (NYSE:ADCT) gapped up before the market opened on Monday after HC Wainwright raised their price target on the stock from $7.00 to $8.00. The stock had previously closed at $3.86, but opened at $4.10. HC Wainwright currently has a buy rating on the stock. ADC Therapeutics shares last traded at $4.00, with a volume of 76,189 shares trading hands.

A number of other equities research analysts have also commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of ADC Therapeutics in a research report on Wednesday, January 21st. Royal Bank Of Canada restated an “outperform” rating and issued a $5.00 target price on shares of ADC Therapeutics in a research note on Wednesday, December 3rd. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $7.67.

Institutional Trading of ADC Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Engineers Gate Manager LP bought a new position in shares of ADC Therapeutics in the 4th quarter valued at about $43,000. AQR Capital Management LLC boosted its stake in ADC Therapeutics by 42.2% in the fourth quarter. AQR Capital Management LLC now owns 206,576 shares of the company’s stock valued at $729,000 after acquiring an additional 61,324 shares during the last quarter. Cantor Fitzgerald L. P. acquired a new stake in ADC Therapeutics during the 4th quarter worth $353,000. Jump Financial LLC raised its position in shares of ADC Therapeutics by 1,299.8% during the 4th quarter. Jump Financial LLC now owns 162,250 shares of the company’s stock valued at $573,000 after acquiring an additional 150,659 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of ADC Therapeutics by 25.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 46,750 shares of the company’s stock valued at $166,000 after purchasing an additional 9,537 shares during the period. 41.10% of the stock is owned by institutional investors.

ADC Therapeutics Stock Performance

The company has a 50-day moving average price of $4.00 and a 200-day moving average price of $3.94. The firm has a market capitalization of $512.23 million, a P/E ratio of -3.36 and a beta of 1.91.

ADC Therapeutics (NYSE:ADCT) last released its earnings results on Tuesday, March 10th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.28. The company had revenue of $23.06 million during the quarter, compared to analyst estimates of $22.29 million. Equities analysts predict that ADC Therapeutics SA will post -1.69 EPS for the current year.

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.