ADC Therapeutics SA (NYSE:ADCT) Short Interest Up 5.7% in March

ADC Therapeutics SA (NYSE:ADCT) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 993,100 shares, an increase of 5.7% from the March 15th total of 939,800 shares. Approximately 1.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 791,000 shares, the short-interest ratio is currently 1.3 days.

Wall Street Analysts Forecast Growth

ADCT has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $8.00 price target on shares of ADC Therapeutics in a report on Thursday, March 14th. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of ADC Therapeutics in a research report on Monday. Finally, Guggenheim restated a “buy” rating on shares of ADC Therapeutics in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.50.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC boosted its position in ADC Therapeutics by 112,365.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 21,933,073 shares of the company’s stock valued at $84,223,000 after buying an additional 21,913,571 shares during the period. Millennium Management LLC boosted its holdings in shares of ADC Therapeutics by 709.3% in the fourth quarter. Millennium Management LLC now owns 3,401,120 shares of the company’s stock valued at $13,060,000 after purchasing an additional 2,980,867 shares during the period. Bank of America Corp DE grew its stake in ADC Therapeutics by 23,287.6% in the fourth quarter. Bank of America Corp DE now owns 1,604,626 shares of the company’s stock worth $6,162,000 after purchasing an additional 1,597,765 shares in the last quarter. Perceptive Advisors LLC purchased a new position in ADC Therapeutics during the 1st quarter worth $2,917,000. Finally, Point72 Asset Management L.P. bought a new stake in ADC Therapeutics during the 4th quarter valued at $2,705,000. 41.10% of the stock is currently owned by institutional investors.

ADC Therapeutics Price Performance

Shares of NYSE:ADCT opened at $4.93 on Thursday. The firm has a market capitalization of $406.87 million, a PE ratio of -1.68 and a beta of 1.73. The business has a 50 day simple moving average of $4.61 and a two-hundred day simple moving average of $2.51. ADC Therapeutics has a 1 year low of $0.36 and a 1 year high of $6.04.

ADC Therapeutics (NYSE:ADCT) last posted its quarterly earnings data on Wednesday, March 13th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.56). ADC Therapeutics had a negative net margin of 344.15% and a negative return on equity of 1,313.37%. The business had revenue of $16.79 million for the quarter, compared to analysts’ expectations of $16.58 million. Equities research analysts expect that ADC Therapeutics will post -2.19 EPS for the current fiscal year.

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.