ADC Therapeutics SA (NYSE:ADCT) Sees Significant Increase in Short Interest

ADC Therapeutics SA (NYSE:ADCT) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 4,860,000 shares, a growth of 18.0% from the December 15th total of 4,120,000 shares. Based on an average daily volume of 865,500 shares, the short-interest ratio is presently 5.6 days.

ADC Therapeutics Stock Performance

NYSE ADCT traded up $0.07 during trading hours on Friday, hitting $1.82. 548,927 shares of the company’s stock were exchanged, compared to its average volume of 824,413. The business’s 50 day moving average is $2.16 and its 200-day moving average is $2.77. ADC Therapeutics has a 12-month low of $1.68 and a 12-month high of $6.04. The firm has a market capitalization of $175.49 million, a P/E ratio of -0.76 and a beta of 1.55.

ADC Therapeutics (NYSE:ADCT) last released its earnings results on Thursday, November 7th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.06). The company had revenue of $18.46 million during the quarter, compared to analysts’ expectations of $18.76 million. During the same quarter in the previous year, the business earned ($0.58) EPS. As a group, equities research analysts anticipate that ADC Therapeutics will post -1.69 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on ADCT shares. Guggenheim restated a “buy” rating and issued a $10.00 price objective on shares of ADC Therapeutics in a research report on Thursday, December 12th. HC Wainwright restated a “buy” rating and issued a $8.00 price objective on shares of ADC Therapeutics in a research report on Monday, January 6th. Finally, Stephens started coverage on ADC Therapeutics in a research report on Friday, November 8th. They issued an “overweight” rating and a $6.00 price objective on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ADC Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $8.00.

Insider Buying and Selling at ADC Therapeutics

In related news, major shareholder Redmile Group, Llc acquired 100,000 shares of ADC Therapeutics stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average cost of $3.04 per share, for a total transaction of $304,000.00. Following the completion of the transaction, the insider now directly owns 13,145,712 shares of the company’s stock, valued at $39,962,964.48. The trade was a 0.77 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ADC Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC purchased a new position in shares of ADC Therapeutics in the 2nd quarter worth about $33,000. Intech Investment Management LLC acquired a new stake in shares of ADC Therapeutics in the third quarter valued at about $41,000. Acadian Asset Management LLC acquired a new stake in shares of ADC Therapeutics in the second quarter valued at about $51,000. Readystate Asset Management LP acquired a new stake in shares of ADC Therapeutics in the third quarter valued at about $54,000. Finally, SG Americas Securities LLC grew its stake in shares of ADC Therapeutics by 35.6% in the fourth quarter. SG Americas Securities LLC now owns 36,140 shares of the company’s stock valued at $72,000 after buying an additional 9,483 shares in the last quarter. 41.10% of the stock is currently owned by hedge funds and other institutional investors.

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.