ADC Therapeutics (NYSE:ADCT) Sets New 52-Week High - Here's Why

Key Points

• ADC Therapeutics (NYSE:ADCT) reached a new 52-week high of $4.79 before closing at $4.40, with a trading volume of 58,165 shares.
• Equities research analysts have mixed ratings on ADCT, with a consensus of "Moderate Buy" and an average target price of $7.75, while one analyst assigned a Sell rating.
• The company's latest earnings report showed a loss of ($0.50) EPS, missing estimates, but revenue of $18.84 million exceeded expectations of $17.82 million.

ADC Therapeutics SA (NYSE:ADCT - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $4.79 and last traded at $4.40, with a volume of 58165 shares changing hands. The stock had previously closed at $4.42.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ADCT shares. Weiss Ratings reissued a "sell (d-)" rating on shares of ADC Therapeutics in a report on Wednesday, October 8th. Wall Street Zen lowered shares of ADC Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Royal Bank Of Canada raised shares of ADC Therapeutics from an "outperform" rating to a "moderate buy" rating and cut their price objective for the company from $8.00 to $5.00 in a report on Friday, June 20th. Finally, Guggenheim restated a "buy" rating and set a $10.00 target price on shares of ADC Therapeutics in a research report on Wednesday, August 13th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ADC Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $7.75.

ADC Therapeutics Price Performance

The company has a market capitalization of $486.56 million, a price-to-earnings ratio of -2.79 and a beta of 1.99. The stock has a 50 day simple moving average of $3.39 and a two-hundred day simple moving average of $2.69.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.14). The company had revenue of $18.84 million for the quarter, compared to analysts' expectations of $17.82 million. Equities research analysts predict that ADC Therapeutics SA will post -1.69 EPS for the current year.

Hedge Funds Weigh In On ADC Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of ADCT. Cerity Partners LLC purchased a new stake in shares of ADC Therapeutics in the first quarter valued at about $25,000. Atria Wealth Solutions Inc. acquired a new stake in shares of ADC Therapeutics during the first quarter valued at $28,000. Creative Planning acquired a new stake in shares of ADC Therapeutics during the second quarter valued at $96,000. Ethic Inc. purchased a new position in ADC Therapeutics in the 2nd quarter valued at about $103,000. Finally, Russell Investments Group Ltd. lifted its holdings in ADC Therapeutics by 136.3% in the 1st 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 in the last quarter. 41.10% of the stock is owned by institutional investors and hedge funds.

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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