ADC Therapeutics (NYSE:ADCT) Shares Down 6.3% – Time to Sell?

Shares of ADC Therapeutics SA (NYSE:ADCT) were down 6.3% during trading on Monday . The stock traded as low as $1.26 and last traded at $1.2650. Approximately 658,025 shares changed hands during trading, a decline of 54% from the average daily volume of 1,431,881 shares. The stock had previously closed at $1.35.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ADCT shares. Stephens reaffirmed an “overweight” rating and issued a $5.00 price objective on shares of ADC Therapeutics in a research report on Thursday, June 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of ADC Therapeutics in a research report on Thursday, June 4th. Weiss Ratings restated a “sell (d-)” rating on shares of ADC Therapeutics in a research note on Friday. Wall Street Zen downgraded shares of ADC Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, HC Wainwright lowered shares of ADC Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, June 8th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.25.

ADC Therapeutics Price Performance

The stock has a market cap of $160.90 million, a price-to-earnings ratio of -1.20 and a beta of 1.87. The company’s fifty day moving average price is $1.90 and its 200-day moving average price is $3.20.

ADC Therapeutics (NYSE:ADCT) last released its earnings results on Monday, May 4th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The company had revenue of $20.85 million for the quarter, compared to the consensus estimate of $19.99 million. During the same period in the previous year, the business earned ($0.36) EPS. On average, sell-side analysts forecast that ADC Therapeutics SA will post -0.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ADC Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in ADCT. Revolve Wealth Partners LLC acquired a new position in shares of ADC Therapeutics in the 2nd quarter valued at $107,000. Bank of America Corp DE raised its stake in ADC Therapeutics by 2.0% in the 1st quarter. Bank of America Corp DE now owns 1,325,017 shares of the company’s stock worth $4,969,000 after acquiring an additional 26,433 shares during the last quarter. Quantinno Capital Management LP lifted its position in ADC Therapeutics by 36.0% during the 1st quarter. Quantinno Capital Management LP now owns 14,719 shares of the company’s stock worth $55,000 after acquiring an additional 3,894 shares during the period. Lazard Asset Management LLC purchased a new stake in ADC Therapeutics during the 1st quarter valued at about $985,000. Finally, Renaissance Technologies LLC purchased a new stake in ADC Therapeutics during the 1st quarter valued at about $1,122,000. 41.10% of the stock is currently owned by institutional investors and hedge funds.

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.