ADC Therapeutics (NYSE:ADCT) Shares Up 6.7% – Should You Buy?

Shares of ADC Therapeutics SA (NYSE:ADCT) shot up 6.7% during mid-day trading on Monday . The company traded as high as $4.39 and last traded at $4.3750. 237,268 shares were traded during trading, a decline of 68% from the average session volume of 739,613 shares. The stock had previously closed at $4.10.

Analyst Ratings Changes

ADCT has been the topic of a number of recent research reports. Royal Bank Of Canada restated an “outperform” rating and issued a $5.00 target price on shares of ADC Therapeutics in a report on Wednesday, December 3rd. Guggenheim reissued a “buy” rating and issued a $10.00 price target on shares of ADC Therapeutics in a research report on Wednesday, November 12th. Wall Street Zen raised shares of ADC Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ADC Therapeutics in a research note on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.50.

ADC Therapeutics Price Performance

The stock has a fifty day moving average of $3.76 and a 200 day moving average of $3.77. The firm has a market capitalization of $544.45 million, a P/E ratio of -3.03 and a beta of 1.93.

Hedge Funds Weigh In On ADC Therapeutics

Several hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LLC purchased a new position in shares of ADC Therapeutics during the 2nd quarter valued at $959,000. Ethic Inc. purchased a new position in shares of ADC Therapeutics during the 2nd quarter valued at about $103,000. Stempoint Capital LP bought a new stake in ADC Therapeutics in the 2nd quarter worth approximately $759,000. Panagora Asset Management Inc. boosted its stake in ADC Therapeutics by 400.8% in the second quarter. Panagora Asset Management Inc. now owns 271,359 shares of the company’s stock worth $727,000 after buying an additional 217,173 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in ADC Therapeutics in the fourth quarter worth approximately $43,000. 41.10% of the stock is currently owned by hedge funds and other institutional investors.

About ADC Therapeutics

ADC Therapeutics SA is a clinical-stage biopharmaceutical company focused on the discovery and development of highly targeted antibody-drug conjugates (ADCs) designed to treat hematological malignancies such as non-Hodgkin lymphoma and acute myeloid leukemia. By marrying the specificity of monoclonal antibodies with potent cytotoxic payloads, the company aims to maximize tumor cell eradication while limiting off-target toxicity.

At the core of ADC Therapeutics’ portfolio is loncastuximab tesirine-lpyl, a CD19-directed ADC that received accelerated approval from the U.S.