Q1 2024 EPS Estimates for ADC Therapeutics SA (NYSE:ADCT) Decreased by Analyst

ADC Therapeutics SA (NYSE:ADCT - Free Report) - Research analysts at HC Wainwright cut their Q1 2024 earnings per share estimates for shares of ADC Therapeutics in a research report issued to clients and investors on Monday, April 15th. HC Wainwright analyst R. Burns now expects that the company will post earnings of ($0.56) per share for the quarter, down from their previous forecast of ($0.54). HC Wainwright has a "Buy" rating and a $9.00 price target on the stock. The consensus estimate for ADC Therapeutics' current full-year earnings is ($2.19) per share. HC Wainwright also issued estimates for ADC Therapeutics' Q2 2024 earnings at ($0.58) EPS, Q3 2024 earnings at ($0.59) EPS, Q4 2024 earnings at ($0.60) EPS and FY2024 earnings at ($2.33) EPS.

ADCT has been the topic of a number of other research reports. Royal Bank of Canada reissued an "outperform" rating and issued a $8.00 price objective on shares of ADC Therapeutics in a research note on Thursday, March 14th. Guggenheim restated a "buy" rating on shares of ADC Therapeutics in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $7.50.

ADC Therapeutics Stock Performance

ADC Therapeutics stock traded down $0.19 on Thursday, reaching $4.77. The company's stock had a trading volume of 278,325 shares, compared to its average volume of 772,547. The company has a market cap of $393.67 million, a price-to-earnings ratio of -1.63 and a beta of 1.73. The business's fifty day moving average price is $4.62 and its 200 day moving average price is $2.53. ADC Therapeutics has a twelve month low of $0.36 and a twelve month high of $6.04.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last posted its quarterly earnings data on Wednesday, March 13th. The company reported ($1.03) EPS for the quarter, missing analysts' consensus estimates of ($0.47) by ($0.56). The business had revenue of $16.79 million during the quarter, compared to analyst estimates of $16.58 million. ADC Therapeutics had a negative return on equity of 1,313.37% and a negative net margin of 344.15%.

Institutional Investors Weigh In On ADC Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADCT. Moneta Group Investment Advisors LLC increased its holdings in ADC Therapeutics by 112,365.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 21,933,073 shares of the company's stock valued at $84,223,000 after purchasing an additional 21,913,571 shares during the last quarter. Millennium Management LLC increased its holdings in ADC Therapeutics by 709.3% in the fourth quarter. Millennium Management LLC now owns 3,401,120 shares of the company's stock valued at $13,060,000 after purchasing an additional 2,980,867 shares during the last quarter. Bank of America Corp DE increased its holdings in ADC Therapeutics by 23,287.6% in the fourth quarter. Bank of America Corp DE now owns 1,604,626 shares of the company's stock valued at $6,162,000 after purchasing an additional 1,597,765 shares during the last quarter. Perceptive Advisors LLC bought a new stake in ADC Therapeutics in the first quarter valued at about $2,917,000. Finally, Point72 Asset Management L.P. acquired a new position in ADC Therapeutics in the fourth quarter valued at about $2,705,000. 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.