ADC Therapeutics (NYSE:ADCT) Cut to Sell at Wall Street Zen

Key Points

• ADC Therapeutics has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, signaling a negative outlook from some analysts.
• Despite the downgrade, Guggenheim has reissued a "buy" rating with a price target of $10.00, indicating mixed sentiments among analysts regarding the stock's potential.
• ADC Therapeutics reported a quarterly loss with an EPS of ($0.50), missing expectations, though revenue was slightly above estimates at $18.84 million.

Wall Street Zen lowered shares of ADC Therapeutics (NYSE:ADCT - Free Report) from a hold rating to a sell rating in a research report released on Saturday.

Other equities research analysts have also recently issued research reports about the company. Guggenheim reiterated a "buy" rating and issued a $10.00 price objective on shares of ADC Therapeutics in a research note on Wednesday, August 13th. Royal Bank Of Canada upgraded ADC Therapeutics from an "outperform" rating to a "moderate buy" rating and cut their price target for the stock from $8.00 to $5.00 in a research note on Friday, June 20th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $7.75.

ADC Therapeutics Stock Performance

NYSE ADCT traded down $0.0050 on Friday, reaching $3.1050. The stock had a trading volume of 497,898 shares, compared to its average volume of 711,727. ADC Therapeutics has a 12-month low of $1.05 and a 12-month high of $3.97. The business's 50-day moving average price is $2.99 and its 200 day moving average price is $2.19. The stock has a market cap of $349.31 million, a P/E ratio of -1.98 and a beta of 1.92.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.50) earnings per share for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.14). The business had revenue of $18.84 million during the quarter, compared to the consensus estimate of $17.82 million. On average, sell-side analysts predict that ADC Therapeutics will post -1.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ADCT. Nantahala Capital Management LLC purchased a new position in ADC Therapeutics in the second quarter worth $6,074,000. Woodline Partners LP purchased a new position in ADC Therapeutics in the fourth quarter worth $3,848,000. Orbimed Advisors LLC raised its position in ADC Therapeutics by 31.6% in the fourth quarter. Orbimed Advisors LLC now owns 5,968,451 shares of the company's stock worth $11,877,000 after acquiring an additional 1,434,650 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in ADC Therapeutics in the fourth quarter worth $1,426,000. Finally, Bank of America Corp DE raised its position in ADC Therapeutics by 22.1% in the second quarter. Bank of America Corp DE now owns 2,199,059 shares of the company's stock worth $5,893,000 after acquiring an additional 397,905 shares in the last quarter. Hedge funds and other institutional investors 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.