Short Interest in ADC Therapeutics SA (NYSE:ADCT) Rises By 5.7%

ADC Therapeutics SA (NYSE:ADCT - Get Free Report) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 993,100 shares, a growth of 5.7% from the March 15th total of 939,800 shares. Currently, 1.8% of the company's shares are short sold. Based on an average daily volume of 791,000 shares, the days-to-cover ratio is currently 1.3 days.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ADCT shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $8.00 price objective on shares of ADC Therapeutics in a research report on Thursday, March 14th. HC Wainwright reiterated a "buy" rating and issued a $9.00 price objective on shares of ADC Therapeutics in a research report on Monday. Finally, Guggenheim reiterated a "buy" rating on shares of ADC Therapeutics in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $7.50.

Institutional Investors Weigh In On ADC Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC grew its stake in shares of ADC Therapeutics by 12.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 21,933 shares of the company's stock worth $84,000 after acquiring an additional 2,431 shares during the last quarter. Advisor Group Holdings Inc. grew its stake in shares of ADC Therapeutics by 1,270.5% in the first quarter. Advisor Group Holdings Inc. now owns 3,248 shares of the company's stock worth $47,000 after acquiring an additional 3,011 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of ADC Therapeutics in the second quarter worth $38,000. Tower Research Capital LLC TRC grew its stake in shares of ADC Therapeutics by 1,253.3% in the third quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company's stock worth $46,000 after acquiring an additional 8,773 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of ADC Therapeutics by 16.9% in the first quarter. Allianz Asset Management GmbH now owns 67,810 shares of the company's stock worth $997,000 after acquiring an additional 9,780 shares during the last quarter. 41.10% of the stock is owned by hedge funds and other institutional investors.

ADC Therapeutics Price Performance

Shares of ADC Therapeutics stock traded up $0.05 during midday trading on Tuesday, reaching $4.42. 238,005 shares of the company's stock traded hands, compared to its average volume of 772,067. The stock has a 50 day moving average of $4.58 and a 200-day moving average of $2.47. ADC Therapeutics has a 12 month low of $0.36 and a 12 month high of $6.04.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $16.58 million. ADC Therapeutics had a negative net margin of 344.15% and a negative return on equity of 1,313.37%. As a group, equities research analysts forecast that ADC Therapeutics will post -2.19 earnings per share for the current year.

About ADC Therapeutics

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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