ADC Therapeutics (NYSE:ADCT) Shares Down 4.2% - What's Next?

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

Analysts Set New Price Targets

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

ADC Therapeutics Trading Down 3.4%

The firm has a fifty day simple moving average of $2.70 and a 200-day simple moving average of $1.97. The stock has a market cap of $320.85 million, a price-to-earnings ratio of -2.21 and a beta of 1.89.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ADCT. Bank of New York Mellon Corp increased its holdings in ADC Therapeutics by 6.0% during the 4th quarter. Bank of New York Mellon Corp now owns 171,993 shares of the company's stock worth $342,000 after purchasing an additional 9,750 shares in the last quarter. Intech Investment Management LLC increased its holdings in ADC Therapeutics by 195.7% during the 4th quarter. Intech Investment Management LLC now owns 38,435 shares of the company's stock worth $76,000 after purchasing an additional 25,437 shares in the last quarter. Platinum Investment Management Ltd. increased its holdings in ADC Therapeutics by 11.6% during the 4th 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 in the last quarter. Kazazian Asset Management LLC bought a new position in ADC Therapeutics during the 4th quarter worth about $26,000. Finally, Sei Investments Co. bought a new position in ADC Therapeutics during the 4th quarter worth about $46,000. 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.