ADC Therapeutics SA (NYSE:ADCT – Get Free Report) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 3,190,000 shares, an increase of 289.3% from the June 30th total of 819,500 shares. Based on an average daily volume of 784,600 shares, the short-interest ratio is presently 4.1 days.
ADC Therapeutics Price Performance
Shares of NYSE:ADCT traded down $0.19 during midday trading on Friday, hitting $3.64. 432,473 shares of the company’s stock were exchanged, compared to its average volume of 769,802. The stock has a 50 day moving average price of $3.37 and a 200-day moving average price of $3.86. The company has a market cap of $300.89 million, a PE ratio of -1.32 and a beta of 1.59. 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 posted its earnings results on Monday, May 6th. The company reported ($0.56) EPS for the quarter, hitting the consensus estimate of ($0.56). The business had revenue of $18.05 million for the quarter, compared to the consensus estimate of $18.19 million. During the same period in the previous year, the firm earned ($0.74) earnings per share. On average, analysts anticipate that ADC Therapeutics will post -1.92 EPS for the current fiscal year.
Insider Transactions at ADC Therapeutics
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADCT. Saxony Capital Management LLC bought a new stake in shares of ADC Therapeutics in the fourth quarter valued at approximately $34,000. Hennion & Walsh Asset Management Inc. raised its position in shares of ADC Therapeutics by 7.1% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 70,636 shares of the company’s stock valued at $317,000 after purchasing an additional 4,700 shares during the period. Sanibel Captiva Trust Company Inc. bought a new stake in shares of ADC Therapeutics in the first quarter valued at approximately $462,000. Finally, Bank of New York Mellon Corp bought a new stake in ADC Therapeutics during the 2nd quarter worth approximately $648,000. 41.10% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
ADCT has been the subject of several research analyst reports. Cantor Fitzgerald initiated coverage on shares of ADC Therapeutics in a research note on Thursday, May 30th. They issued an “overweight” rating for the company. Guggenheim reaffirmed a “buy” rating on shares of ADC Therapeutics in a research note on Friday, April 5th. Finally, HC Wainwright decreased their price target on shares of ADC Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, ADC Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $9.00.
View Our Latest Research Report on ADCT
ADC Therapeutics Company Profile
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.
Further Reading
- Five stocks we like better than ADC Therapeutics
- 3 Home Improvement Stocks that Can Upgrade Your Portfolio
- 3M Surprises and Rebound Accelerates: It Isn’t Too Late To Get In
- Trading Halts Explained
- Skechers Stock Shows Strength Among Consumer Discretionary Sector
- 3 Small Caps With Big Return Potential
- Tech Stocks Tumble, These Stocks Present Buying Opportunity
Receive News & Ratings for ADC Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ADC Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.