ADC Therapeutics (NYSE:ADCT) Sets New 52-Week High - Still a Buy?

Key Points

• ADC Therapeutics shares reached a new 52-week high of $4.55, up from a previous close of $4.08, with significant trading volume of 398,381 shares.
• Brokerages have mixed ratings on ADCT, with Royal Bank of Canada lowering its price target to $5.00, while Guggenheim maintains a buy rating with a $10.00 price objective.
• The company reported a quarterly loss of ($0.50) earnings per share, missing estimates, but exceeded revenue expectations with $18.84 million in sales.

ADC Therapeutics SA (NYSE:ADCT - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $4.48 and last traded at $4.55, with a volume of 398381 shares changing hands. The stock had previously closed at $4.08.

Analysts Set New Price Targets

Several brokerages have recently commented on ADCT. Royal Bank Of Canada raised ADC Therapeutics from an "outperform" rating to a "moderate buy" rating and decreased their price target for the stock from $8.00 to $5.00 in a research note on Friday, June 20th. Weiss Ratings reissued a "sell (d-)" rating on shares of ADC Therapeutics in a report on Saturday, September 27th. Wall Street Zen downgraded ADC Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, Guggenheim reissued a "buy" rating and issued a $10.00 price objective on shares of ADC Therapeutics in a research note on Wednesday, August 13th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $7.75.

ADC Therapeutics Trading Up 8.2%

The firm has a market cap of $496.69 million, a PE ratio of -2.82 and a beta of 1.99. The stock's 50 day moving average price is $3.23 and its 200 day moving average price is $2.59.

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

Institutional Trading of ADC Therapeutics

A number of hedge funds have recently made changes to their positions in ADCT. Two Sigma Advisers LP boosted its stake in shares of ADC Therapeutics by 122.9% in the fourth quarter. Two Sigma Advisers LP now owns 65,267 shares of the company's stock valued at $130,000 after purchasing an additional 35,991 shares during the period. Squarepoint Ops LLC lifted its holdings in ADC Therapeutics by 42.2% in the 4th quarter. Squarepoint Ops LLC now owns 107,231 shares of the company's stock worth $213,000 after buying an additional 31,839 shares in the last quarter. Wellington Management Group LLP boosted its position in ADC Therapeutics by 50.3% in the 4th quarter. Wellington Management Group LLP now owns 253,342 shares of the company's stock valued at $504,000 after buying an additional 84,785 shares during the last quarter. Cerity Partners LLC purchased a new stake in ADC Therapeutics during the 1st quarter worth approximately $25,000. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of ADC Therapeutics in the 1st quarter valued at approximately $28,000. Hedge funds and other institutional investors 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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