ADC Therapeutics SA (NYSE:ADCT) Short Interest Up 16.6% in May

ADC Therapeutics SA (NYSE:ADCTGet Free Report) was the recipient of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 1,000,000 shares, an increase of 16.6% from the April 30th total of 857,600 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average daily volume of 566,800 shares, the short-interest ratio is currently 1.8 days.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Guggenheim reiterated a “buy” rating on shares of ADC Therapeutics in a report on Friday, April 5th. HC Wainwright reduced their target price on shares of ADC Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Royal Bank of Canada restated an “outperform” rating and set a $8.00 target price on shares of ADC Therapeutics in a report on Thursday, March 14th. Finally, Cantor Fitzgerald initiated coverage on shares of ADC Therapeutics in a report on Thursday. They set an “overweight” rating for the company. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $7.25.

View Our Latest Stock Analysis on ADCT

ADC Therapeutics Stock Performance

Shares of NYSE:ADCT traded down $0.01 during mid-day trading on Friday, hitting $3.43. The stock had a trading volume of 778,211 shares, compared to its average volume of 679,742. The company has a market cap of $283.94 million, a PE ratio of -1.25 and a beta of 1.69. ADC Therapeutics has a 12-month low of $0.36 and a 12-month high of $6.04. The company’s 50 day moving average is $4.34 and its 200-day moving average is $3.29.

ADC Therapeutics (NYSE:ADCTGet Free Report) last issued its quarterly earnings results on Monday, May 6th. The company reported ($0.56) EPS for the quarter, meeting the consensus estimate of ($0.56). ADC Therapeutics had a negative net margin of 330.17% and a negative return on equity of 1,313.37%. The business had revenue of $18.05 million during the quarter, compared to the consensus estimate of $18.19 million. During the same quarter in the prior year, the firm earned ($0.74) EPS. On average, equities research analysts predict that ADC Therapeutics will post -1.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ameet Mallik sold 29,731 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $4.48, for a total value of $133,194.88. Following the completion of the transaction, the chief executive officer now directly owns 1,167,348 shares in the company, valued at $5,229,719.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.05% of the stock is owned by insiders.

Institutional Investors Weigh In On ADC Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADCT. Acadian Asset Management LLC lifted its position in ADC Therapeutics by 613.8% in the 3rd quarter. Acadian Asset Management LLC now owns 156,048 shares of the company’s stock worth $138,000 after buying an additional 134,186 shares in the last quarter. Affinity Asset Advisors LLC lifted its position in ADC Therapeutics by 83.3% in the 3rd quarter. Affinity Asset Advisors LLC now owns 1,100,000 shares of the company’s stock worth $987,000 after buying an additional 500,000 shares in the last quarter. Redmile Group LLC lifted its position in ADC Therapeutics by 0.9% in the 3rd quarter. Redmile Group LLC now owns 14,178,045 shares of the company’s stock worth $12,718,000 after buying an additional 128,110 shares in the last quarter. Saxony Capital Management LLC acquired a new position in shares of ADC Therapeutics during the 4th quarter worth $34,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of ADC Therapeutics by 7.1% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 70,636 shares of the company’s stock worth $317,000 after purchasing an additional 4,700 shares during the last quarter. Hedge funds and other institutional investors own 41.10% of the company’s stock.

About ADC Therapeutics

(Get Free Report)

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

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