ADC Therapeutics' (ADCT) "Sell (D-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Weiss Ratings reaffirmed a "sell (D-)" rating for ADC Therapeutics (ADCT), while several other analysts have mixed ratings, including a "buy" and a revised price target of $10 from Guggenheim.
• ADC Therapeutics shares traded at $4.08, with a significant gap between a 12-month low of $1.05 and a high of $4.74, and the stock has a market cap of $458.44 million.
• The company reported earnings of ($0.50) per share for the last quarter, missing expectations, but had revenue of $18.84 million, exceeding analyst estimates.

ADC Therapeutics (NYSE:ADCT - Get Free Report)'s stock had its "sell (d-)" rating reissued by Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

Several other equities analysts have also commented on the company. Guggenheim restated a "buy" rating and set a $10.00 price target on shares of ADC Therapeutics in a research note on Wednesday, August 13th. Wall Street Zen lowered ADC Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, HC Wainwright cut their price target on ADC Therapeutics from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Thursday, October 16th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, ADC Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $7.50.

ADC Therapeutics Price Performance

Shares of NYSE:ADCT traded up $0.01 on Friday, hitting $4.08. 228,794 shares of the company's stock were exchanged, compared to its average volume of 665,172. ADC Therapeutics has a 12 month low of $1.05 and a 12 month high of $4.74. The stock has a market capitalization of $458.44 million, a price-to-earnings ratio of -2.60 and a beta of 1.99. The business's 50 day simple moving average is $3.64 and its two-hundred day simple moving average is $2.85.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.14). The firm had revenue of $18.84 million during the quarter, compared to analyst estimates of $17.82 million. Equities analysts forecast that ADC Therapeutics will post -1.69 EPS for the current fiscal year.

Hedge Funds Weigh In On ADC Therapeutics

Several hedge funds have recently bought and sold shares of ADCT. Cerity Partners LLC acquired a new position in ADC Therapeutics during the 1st quarter worth about $25,000. Atria Wealth Solutions Inc. acquired a new position in ADC Therapeutics during the 1st quarter worth about $28,000. Russell Investments Group Ltd. lifted its stake in ADC Therapeutics by 136.3% during the 1st quarter. Russell Investments Group Ltd. now owns 39,688 shares of the company's stock worth $56,000 after acquiring an additional 22,894 shares in the last quarter. MetLife Investment Management LLC lifted its stake in ADC Therapeutics by 46.2% during the 1st quarter. MetLife Investment Management LLC now owns 45,487 shares of the company's stock worth $64,000 after acquiring an additional 14,370 shares in the last quarter. Finally, Creative Planning purchased a new stake in ADC Therapeutics during the 2nd quarter worth about $96,000. Institutional investors and hedge funds own 41.10% of the company's stock.

ADC Therapeutics Company Profile

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.

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