ADC Therapeutics (NYSE:ADCT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ADC Therapeutics (NYSE:ADCT) from a sell rating to a hold rating in a report published on Saturday morning.

Several other equities research analysts have also recently weighed in on ADCT. Cantor Fitzgerald reissued an “overweight” rating on shares of ADC Therapeutics in a research report on Thursday, June 4th. Royal Bank Of Canada cut shares of ADC Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $6.00 to $2.00 in a research report on Thursday, June 4th. Stephens reissued an “overweight” rating and issued a $5.00 target price on shares of ADC Therapeutics in a research note on Thursday, June 4th. HC Wainwright downgraded ADC Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, June 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ADC Therapeutics in a research report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, ADC Therapeutics has a consensus rating of “Hold” and a consensus target price of $5.00.

ADC Therapeutics Stock Performance

Shares of ADCT stock opened at $1.09 on Friday. The company has a market capitalization of $138.64 million, a P/E ratio of -1.65 and a beta of 1.89. ADC Therapeutics has a fifty-two week low of $0.78 and a fifty-two week high of $4.98. The stock has a 50 day moving average price of $1.15 and a two-hundred day moving average price of $2.85.

ADC Therapeutics (NYSE:ADCT) last issued its earnings results on Thursday, August 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.11. The firm had revenue of $19.25 million during the quarter, compared to the consensus estimate of $18.89 million. As a group, equities analysts predict that ADC Therapeutics will post -0.88 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its position in shares of ADC Therapeutics by 411.1% in the 1st quarter. AQR Capital Management LLC now owns 201,170 shares of the company’s stock worth $284,000 after purchasing an additional 161,808 shares during the period. Creative Planning purchased a new position in shares of ADC Therapeutics during the second quarter valued at about $96,000. Nantahala Capital Management LLC purchased a new position in shares of ADC Therapeutics during the second quarter valued at about $6,074,000. Bank of America Corp DE raised its stake in ADC Therapeutics by 22.1% in the second quarter. Bank of America Corp DE now owns 2,199,059 shares of the company’s stock worth $5,893,000 after buying an additional 397,905 shares in the last quarter. Finally, Corient Private Wealth LLC bought a new position in ADC Therapeutics in the second quarter worth about $959,000. 41.10% of the stock is currently owned by institutional investors.

ADC Therapeutics Company Profile

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.