ADC Therapeutics SA (NYSE:ADCT) Short Interest Update

Key Points

• The short interest in ADC Therapeutics SA decreased by 20.6% in August, totaling 4,510,000 shares as of August 15th.
• ADC Therapeutics' stock fell 6.1% to $3.31, with a market cap of $372.04 million and a P/E ratio of -2.11.
• The company reported a quarterly loss of ($0.50) EPS, missing analysts' estimates, but had revenue of $18.84 million, exceeding expectations.

ADC Therapeutics SA (NYSE:ADCT - Get Free Report) was the target of a significant drop in short interest during the month of August. As of August 15th, there was short interest totaling 4,510,000 shares, a drop of 20.6% from the July 31st total of 5,680,000 shares. Based on an average daily trading volume, of 807,400 shares, the short-interest ratio is presently 5.6 days. Based on an average daily trading volume, of 807,400 shares, the short-interest ratio is presently 5.6 days.

Hedge Funds Weigh In On ADC Therapeutics

A number of large investors have recently modified their holdings of ADCT. Wells Fargo & Company MN boosted its position in shares of ADC Therapeutics by 39.4% in the fourth quarter. Wells Fargo & Company MN now owns 41,832 shares of the company's stock valued at $83,000 after acquiring an additional 11,834 shares during the period. Barclays PLC boosted its position in shares of ADC Therapeutics by 10.8% in the fourth quarter. Barclays PLC now owns 141,495 shares of the company's stock valued at $282,000 after acquiring an additional 13,756 shares during the period. BNP Paribas Financial Markets purchased a new stake in ADC Therapeutics in the fourth quarter valued at approximately $1,426,000. Deutsche Bank AG raised its stake in ADC Therapeutics by 40.7% in the fourth quarter. Deutsche Bank AG now owns 56,062 shares of the company's stock valued at $112,000 after purchasing an additional 16,217 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in ADC Therapeutics by 21.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,520 shares of the company's stock valued at $93,000 after purchasing an additional 8,246 shares in the last quarter. 41.10% of the stock is currently owned by institutional investors.

ADC Therapeutics Trading Down 0.6%

Shares of ADCT stock traded down $0.02 during trading hours on Friday, reaching $3.31. The stock had a trading volume of 310,947 shares, compared to its average volume of 628,960. The stock's fifty day simple moving average is $3.09 and its 200 day simple moving average is $2.39. ADC Therapeutics has a 12 month low of $1.05 and a 12 month high of $3.97. The firm has a market capitalization of $372.37 million, a PE ratio of -2.11 and a beta of 2.00.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.50) EPS for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.14). The firm had revenue of $18.84 million for the quarter, compared to the consensus estimate of $17.82 million. As a group, equities research analysts anticipate that ADC Therapeutics will post -1.69 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ADCT. Guggenheim restated a "buy" rating and set a $10.00 price objective on shares of ADC Therapeutics in a report on Wednesday, August 13th. Wall Street Zen lowered shares of ADC Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Finally, Royal Bank Of Canada upgraded shares of ADC Therapeutics from an "outperform" rating to a "moderate buy" rating and cut their target price for the stock from $8.00 to $5.00 in a research report on Friday, June 20th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $7.75.

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.