ADC Therapeutics (NYSE:ADCT) Trading Down 9.2% – Should You Sell?

ADC Therapeutics SA (NYSE:ADCT) shares were down 9.2% during mid-day trading on Thursday . The stock traded as low as $4.46 and last traded at $4.43. Approximately 102,116 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 805,532 shares. The stock had previously closed at $4.88.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ADCT. Weiss Ratings reiterated a “sell (d-)” rating on shares of ADC Therapeutics in a research note on Wednesday, January 21st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $5.00 target price on shares of ADC Therapeutics in a research note on Wednesday, December 3rd. Finally, Wall Street Zen raised shares of ADC Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, ADC Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $7.33.

ADC Therapeutics Price Performance

The stock has a market cap of $524.04 million, a P/E ratio of -3.44 and a beta of 1.92. The firm’s fifty day moving average price is $3.95 and its two-hundred day moving average price is $3.89.

ADC Therapeutics (NYSE:ADCT) last announced its earnings results on Tuesday, March 10th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.28. The business had revenue of $23.06 million during the quarter, compared to the consensus estimate of $22.29 million. On average, research analysts expect that ADC Therapeutics SA will post -1.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ADC Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Engineers Gate Manager LP purchased a new stake in shares of ADC Therapeutics during the 4th quarter valued at $43,000. ProShare Advisors LLC increased its stake in ADC Therapeutics by 27.0% in the fourth quarter. ProShare Advisors LLC now owns 15,727 shares of the company’s stock valued at $56,000 after acquiring an additional 3,339 shares during the last quarter. AXQ Capital LP bought a new position in ADC Therapeutics in the fourth quarter valued at $57,000. R Squared Ltd purchased a new stake in ADC Therapeutics during the third quarter valued at about $59,000. Finally, Henrickson Nauta Wealth Advisors Inc. bought a new stake in ADC Therapeutics during the fourth quarter worth about $69,000. Hedge funds and other institutional investors own 41.10% of the company’s stock.

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.