ADC Therapeutics (NYSE:ADCT) Shares Up 8.4% - Time to Buy?

Key Points

• ADC Therapeutics shares rose 8.4% to $1.225, with trading volume 34% above the average. Despite the gain, the stock remains well below its 200-day moving average of $2.12 and has a market capitalization of approximately $156.4 million.
• Analyst sentiment is mixed: three analysts rate the stock Buy, two Hold, and one Sell, resulting in an overall “Hold” rating and an average price target of $5.00.
• The company exceeded quarterly expectations, reporting an adjusted loss of $0.11 per share versus estimates of $0.22 and revenue of $19.25 million versus $18.89 million. Institutional investors own 41.1% of the shares, while ADC’s lead product is the approved cancer treatment Zynlonta.

ADC Therapeutics SA (NYSE:ADCT - Get Free Report)'s stock price shot up 8.4% during trading on Monday. The stock traded as high as $1.26 and last traded at $1.2250. Approximately 1,750,927 shares traded hands during trading, an increase of 34% from the average daily volume of 1,310,350 shares. The stock had previously closed at $1.13.

Analyst Upgrades and Downgrades

ADCT has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of ADC Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ADC Therapeutics in a research report on Friday, July 17th. Guggenheim dropped their price objective on ADC Therapeutics to $5.00 and set a "buy" rating for the company in a report on Monday, August 17th. Finally, HC Wainwright lowered ADC Therapeutics from a "buy" rating to a "neutral" rating in a research report on Monday, June 8th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $5.00.

ADC Therapeutics Trading Up 8.4%

The company's fifty day simple moving average is $1.14 and its 200 day simple moving average is $2.12. The firm has a market capitalization of $156.40 million, a P/E ratio of -1.86 and a beta of 1.86.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.22) by $0.11. The company had revenue of $19.25 million for the quarter, compared to the consensus estimate of $18.89 million. On average, analysts predict that ADC Therapeutics SA will post -0.8 earnings per share for the current fiscal year.

Institutional Trading of ADC Therapeutics

Several large investors have recently bought and sold shares of ADCT. Opaleye Management Inc. purchased a new position in shares of ADC Therapeutics in the 2nd quarter valued at approximately $749,000. AXQ Capital LP bought a new position in ADC Therapeutics in the second quarter worth $29,000. Revolve Wealth Partners LLC bought a new position in ADC Therapeutics in the second quarter worth $107,000. Bank of America Corp DE lifted its position in ADC Therapeutics by 2.0% during the first quarter. Bank of America Corp DE now owns 1,325,017 shares of the company's stock valued at $4,969,000 after buying an additional 26,433 shares during the period. Finally, Quantinno Capital Management LP lifted its position in ADC Therapeutics by 36.0% during the first quarter. Quantinno Capital Management LP now owns 14,719 shares of the company's stock valued at $55,000 after buying an additional 3,894 shares during the period. 41.10% of the stock is owned by institutional investors.

ADC Therapeutics Company Profile

ADC Therapeutics SA NYSE: ADCT is a commercial-stage biopharmaceutical company focused on developing antibody-drug conjugates (ADCs) for the treatment of cancer. Its ADC technology is designed to use antibodies to selectively deliver potent cytotoxic agents to cancer cells, with the goal of limiting exposure to healthy tissue.

The company's lead product is Zynlonta (loncastuximab tesirine-lpyl), an ADC directed at the CD19 antigen. Zynlonta is approved in the United States for the treatment of adults with relapsed or refractory large B-cell lymphoma after two or more lines of systemic therapy.

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