ADC Therapeutics (NYSE:ADCT) Stock Crosses Below 50 Day Moving Average - What's Next?

Key Points

• ADC Therapeutics shares fell below their 50-day moving average, trading as low as $1.28 and last at $1.345, down 4.6%; the 50-day average was $1.39.
• Analysts’ average rating is Hold, with an average price target of $5.00. Ratings range from three Buys to two Holds and one Sell.
• The company reported quarterly EPS of -$0.16, better than the -$0.21 consensus estimate, and revenue of $21.72 million, above forecasts of $18.70 million.

ADC Therapeutics SA (NYSE:ADCT - Get Free Report) passed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $1.39 and traded as low as $1.28. ADC Therapeutics shares last traded at $1.3450, with a volume of 1,072,670 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ADCT shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of ADC Therapeutics in a research report on Thursday, October 15th. Guggenheim decreased their target price on ADC Therapeutics to $5.00 and set a "buy" rating on the stock in a report on Monday, August 17th. Finally, Wall Street Zen raised ADC Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $5.00.

ADC Therapeutics Stock Down 4.6%

The company has a market capitalization of $189.19 million, a PE ratio of -2.59 and a beta of 1.82. The business's 50 day simple moving average is $1.39 and its 200 day simple moving average is $2.38.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last announced its earnings results on Monday, November 9th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.05. The firm had revenue of $21.72 million during the quarter, compared to analyst estimates of $18.70 million. During the same quarter in the previous year, the business earned ($0.30) earnings per share. On average, analysts anticipate that ADC Therapeutics SA will post -0.80 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ADC Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantinno Capital Management LP grew its position in ADC Therapeutics by 36.0% during the 1st quarter. Quantinno Capital Management LP now owns 14,719 shares of the company's stock worth $55,000 after purchasing an additional 3,894 shares in the last quarter. R Squared Ltd lifted its holdings in shares of ADC Therapeutics by 75.2% in the third quarter. R Squared Ltd now owns 24,402 shares of the company's stock valued at $30,000 after purchasing an additional 10,476 shares in the last quarter. Simplex Trading LLC lifted its holdings in shares of ADC Therapeutics by 150.6% in the third quarter. Simplex Trading LLC now owns 26,557 shares of the company's stock valued at $32,000 after purchasing an additional 15,960 shares in the last quarter. AXQ Capital LP purchased a new stake in shares of ADC Therapeutics in the second quarter valued at $29,000. Finally, Sei Investments Co. boosted its position in shares of ADC Therapeutics by 45.6% in the first quarter. Sei Investments Co. now owns 33,461 shares of the company's stock worth $125,000 after buying an additional 10,472 shares during the period. Institutional investors and hedge funds own 41.10% of the company's stock.

About ADC Therapeutics

ADC Therapeutics is a biotechnology company headquartered in Epalinges, Switzerland. It develops antibody-drug conjugates (ADCs), medicines designed to use antibodies to deliver cell-killing agents to cancer cells. Its research has focused on blood cancers and solid tumors. The company's lead product, ZYNLONTA (loncastuximab tesirine-lpyl), is an ADC that targets CD19. In the United States, it is approved for adults with relapsed or refractory large B-cell lymphoma after they have received two or more prior systemic treatments.

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