ADC Therapeutics (NYSE:ADCT) Shares Up 11.8% - Still a Buy?

Key Points

• Shares jumped ~11.8% on Wednesday to about $4.31 with 1.74M shares traded (≈114% above average), as the stock trades near its 50- and 200-day moving averages (~$4.04 and $3.98) and a market cap of ~$549M.
• Analyst sentiment is mixed but leans positive: HC Wainwright raised its target to $8 and issued a Buy, and the consensus rating is a "Moderate Buy" with a $7.67 target (three Buys, one Sell).
• Significant insider selling recently: Redmile sold 2.63M shares (a ~17% reduction) and insiders have sold 5.88M shares in the past 90 days, while institutional ownership stands at ~41.1%.

ADC Therapeutics SA (NYSE:ADCT - Get Free Report) shot up 11.8% during trading on Wednesday . The company traded as high as $4.20 and last traded at $4.3140. 1,743,093 shares were traded during mid-day trading, an increase of 114% from the average session volume of 815,482 shares. The stock had previously closed at $3.86.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ADCT. HC Wainwright upped their target price on ADC Therapeutics from $7.00 to $8.00 and gave the company a "buy" rating in a research report on Monday, March 23rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of ADC Therapeutics in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $7.67.

ADC Therapeutics Trading Up 11.9%

The company has a 50-day simple moving average of $4.04 and a 200 day simple moving average of $3.98. The firm has a market cap of $549.37 million, a PE ratio of -3.60 and a beta of 1.94.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last released its quarterly earnings data on Saturday, February 14th. The company reported ($0.09) EPS for the quarter. The business had revenue of $23.06 million during the quarter. On average, equities analysts expect that ADC Therapeutics SA will post -1.69 earnings per share for the current year.

Insider Buying and Selling

In other ADC Therapeutics news, major shareholder Redmile Group, Llc sold 2,634,506 shares of the company's stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $3.28, for a total value of $8,641,179.68. Following the sale, the insider owned 12,666,731 shares in the company, valued at approximately $41,546,877.68. This represents a 17.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders sold 5,880,415 shares of company stock valued at $19,641,067. Corporate insiders own 5.40% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in ADC Therapeutics by 865.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 330,597 shares of the company's stock valued at $1,322,000 after purchasing an additional 296,350 shares during the last quarter. Corient Private Wealth LLC acquired a new position in ADC Therapeutics in the 2nd quarter valued at $959,000. R Squared Ltd acquired a new position in ADC Therapeutics in the 3rd quarter valued at $59,000. Price T Rowe Associates Inc. MD raised its stake in ADC Therapeutics by 25.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 46,750 shares of the company's stock valued at $166,000 after purchasing an additional 9,537 shares during the last quarter. Finally, Eventide Asset Management LLC acquired a new position in ADC Therapeutics in the 4th quarter valued at $11,875,000. 41.10% of the stock is owned by institutional investors and hedge funds.

About ADC Therapeutics

ADC Therapeutics SA is a clinical-stage biopharmaceutical company focused on the discovery and development of highly targeted antibody-drug conjugates (ADCs) designed to treat hematological malignancies such as non-Hodgkin lymphoma and acute myeloid leukemia. By marrying the specificity of monoclonal antibodies with potent cytotoxic payloads, the company aims to maximize tumor cell eradication while limiting off-target toxicity.

At the core of ADC Therapeutics' portfolio is loncastuximab tesirine-lpyl, a CD19-directed ADC that received accelerated approval from the U.S.

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