ADC Therapeutics (NYSE:ADCT) Earns Sell (D-) Rating from Weiss Ratings

Key Points

• ADC Therapeutics received a sell (D-) rating from Weiss Ratings, with other analysts having mixed views including a buy rating and a moderate buy downgrade.
• The stock price of ADC Therapeutics increased by 4.8% to $4.52, while its market capitalization stands at approximately $507.94 million.
• In its most recent quarterly earnings, ADC Therapeutics reported a loss of $0.50 per share, which was worse than analysts' expectations, despite generating revenue of $18.84 million.

ADC Therapeutics (NYSE:ADCT - Get Free Report)'s stock had its "sell (d-)" rating reiterated by equities researchers at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other equities analysts have also recently issued reports on the company. Guggenheim reaffirmed a "buy" rating and set a $10.00 price objective on shares of ADC Therapeutics in a report on Wednesday, August 13th. Royal Bank Of Canada raised ADC Therapeutics from an "outperform" rating to a "moderate buy" rating and reduced their price objective for the stock from $8.00 to $5.00 in a report on Friday, June 20th. Finally, Wall Street Zen cut ADC Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $7.75.

ADC Therapeutics Stock Up 4.8%

ADCT traded up $0.21 during trading on Wednesday, hitting $4.52. 432,928 shares of the stock were exchanged, compared to its average volume of 644,872. The firm has a market capitalization of $507.94 million, a P/E ratio of -2.87 and a beta of 1.99. ADC Therapeutics has a 1-year low of $1.05 and a 1-year high of $4.67. The stock has a fifty day moving average price of $3.29 and a two-hundred day moving average price of $2.62.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last posted 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. Analysts predict that ADC Therapeutics will post -1.69 EPS for the current year.

Institutional Investors Weigh In On ADC Therapeutics

A number of large investors have recently modified their holdings of the stock. Invesco Ltd. boosted its holdings in ADC Therapeutics by 286.1% in the first quarter. Invesco Ltd. now owns 132,704 shares of the company's stock valued at $187,000 after purchasing an additional 98,335 shares during the last quarter. Nuveen LLC purchased a new position in ADC Therapeutics in the first quarter valued at about $214,000. Atria Wealth Solutions Inc. purchased a new position in ADC Therapeutics in the first quarter valued at about $28,000. Russell Investments Group Ltd. boosted its holdings in ADC Therapeutics by 136.3% in the first quarter. Russell Investments Group Ltd. now owns 39,688 shares of the company's stock valued at $56,000 after purchasing an additional 22,894 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in ADC Therapeutics by 46.2% in the first quarter. MetLife Investment Management LLC now owns 45,487 shares of the company's stock valued at $64,000 after purchasing an additional 14,370 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.

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