ADC Therapeutics (NYSE:ADCT) Stock Price Down 4.2% - Should You Sell?

Shares of ADC Therapeutics SA (NYSE:ADCT - Get Free Report) fell 4.2% during trading on Friday . The company traded as low as $3.13 and last traded at $3.16. 388,293 shares traded hands during trading, a decline of 35% from the average session volume of 597,962 shares. The stock had previously closed at $3.30.

Analyst Upgrades and Downgrades

A number of research firms have commented on ADCT. Guggenheim reaffirmed a "buy" rating and set a $10.00 price objective (up from $7.00) on shares of ADC Therapeutics in a research note on Friday, June 13th. Royal Bank Of Canada upgraded ADC Therapeutics from an "outperform" rating to a "moderate buy" rating and dropped their target price for the company from $8.00 to $5.00 in a report on Friday, June 20th. Finally, HC Wainwright reiterated a "buy" rating and issued a $8.00 target price on shares of ADC Therapeutics in a report on Monday, March 31st. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, ADC Therapeutics currently has a consensus rating of "Buy" and an average price target of $7.75.

ADC Therapeutics Trading Down 4.2%

The business has a fifty day moving average price of $2.66 and a two-hundred day moving average price of $1.97. The company has a market cap of $313.41 million, a price-to-earnings ratio of -2.18 and a beta of 1.89.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.36) EPS for the quarter, topping analysts' consensus estimates of ($0.38) by $0.02. The firm had revenue of $23.03 million during the quarter, compared to analyst estimates of $17.71 million. On average, analysts anticipate that ADC Therapeutics SA will post -1.69 EPS for the current year.

Hedge Funds Weigh In On ADC Therapeutics

A number of hedge funds have recently added to or reduced their stakes in ADCT. Woodline Partners LP acquired a new position in ADC Therapeutics in the fourth quarter worth approximately $3,848,000. Orbimed Advisors LLC boosted its position in ADC Therapeutics by 31.6% during the fourth quarter. Orbimed Advisors LLC now owns 5,968,451 shares of the company's stock worth $11,877,000 after purchasing an additional 1,434,650 shares during the period. BNP Paribas Financial Markets bought a new stake in ADC Therapeutics during the fourth quarter worth approximately $1,426,000. Platinum Investment Management Ltd. boosted its position in ADC Therapeutics by 11.6% during the fourth quarter. Platinum Investment Management Ltd. now owns 1,612,556 shares of the company's stock worth $3,209,000 after purchasing an additional 168,040 shares during the period. Finally, AQR Capital Management LLC boosted its position in ADC Therapeutics by 411.1% during the first quarter. AQR Capital Management LLC now owns 201,170 shares of the company's stock worth $284,000 after purchasing an additional 161,808 shares during the period. 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.