ADC Therapeutics (NYSE:ADCT) Stock Price Down 4.9% - Time to Sell?

Key Points

• ADC Therapeutics shares fell 4.9% to about $1.29, with trading volume 49% below its average. The stock has a $165.1 million market capitalization and remains well below its 200-day moving average of $2.54.
• Analyst sentiment is mixed but centers on a “Hold” consensus, with three Buy, two Hold, and one Sell rating. The average price target is $5.00, substantially above the current share price.
• The company reported a narrower-than-expected quarterly loss of $0.11 per share and revenue of $19.25 million, slightly exceeding estimates. Institutional investors own 41.1% of the stock, with several funds recently increasing or initiating positions.

ADC Therapeutics SA (NYSE:ADCT - Get Free Report)'s share price dropped 4.9% during trading on Tuesday . The company traded as low as $1.27 and last traded at $1.2930. 930,738 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 1,823,087 shares. The stock had previously closed at $1.36.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of ADC Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Guggenheim decreased their price target on shares of ADC Therapeutics to $5.00 and set a "buy" rating for the company in a report on Monday, August 17th. HC Wainwright downgraded shares of ADC Therapeutics from a "buy" rating to a "neutral" rating in a research report on Monday, June 8th. Stephens reiterated an "overweight" rating and set a $5.00 price objective on shares of ADC Therapeutics in a research note on Thursday, June 4th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of ADC Therapeutics in a report on Thursday, June 4th. Three investment 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, the stock has a consensus rating of "Hold" and an average target price of $5.00.

ADC Therapeutics Trading Down 4.9%

The stock has a market cap of $165.07 million, a P/E ratio of -1.96 and a beta of 1.84. The stock's 50-day moving average is $1.18 and its 200-day moving average is $2.54.

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

Institutional Trading of ADC Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of ADCT. AQR Capital Management LLC boosted its stake in ADC Therapeutics by 411.1% during the first quarter. AQR Capital Management LLC now owns 201,170 shares of the company's stock valued at $284,000 after buying an additional 161,808 shares in the last quarter. Creative Planning bought a new stake in ADC Therapeutics in the second quarter worth about $96,000. Nantahala Capital Management LLC bought a new stake in ADC Therapeutics in the second quarter worth about $6,074,000. Bank of America Corp DE lifted its holdings in ADC Therapeutics by 22.1% in the 2nd quarter. Bank of America Corp DE now owns 2,199,059 shares of the company's stock valued at $5,893,000 after acquiring an additional 397,905 shares during the last quarter. Finally, Corient Private Wealth LLC acquired a new stake in ADC Therapeutics in the 2nd quarter valued at about $959,000. Institutional investors own 41.10% of the company's stock.

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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