ADC Therapeutics (NYSE:ADCT) Shares Up 6.7% – Time to Buy?

ADC Therapeutics SA (NYSE:ADCT)’s share price rose 6.7% during trading on Monday . The company traded as high as $4.39 and last traded at $4.3750. Approximately 237,268 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 739,613 shares. The stock had previously closed at $4.10.

Analysts Set New Price Targets

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

ADC Therapeutics Trading Up 7.2%

The company has a market cap of $544.45 million, a P/E ratio of -3.03 and a beta of 1.93. The stock’s 50-day moving average price is $3.76 and its 200-day moving average price is $3.77.

Institutional Trading of ADC Therapeutics

Hedge funds have recently bought and sold shares of the business. Prosight Management LP raised its holdings in ADC Therapeutics by 13.5% during the fourth quarter. Prosight Management LP now owns 8,477,338 shares of the company’s stock worth $29,925,000 after buying an additional 1,005,035 shares during the last quarter. Nantahala Capital Management LLC grew its holdings in shares of ADC Therapeutics by 141.6% during the fourth quarter. Nantahala Capital Management LLC now owns 5,475,433 shares of the company’s stock valued at $19,328,000 after buying an additional 3,209,144 shares during the last quarter. Eventide Asset Management LLC bought a new stake in shares of ADC Therapeutics during the fourth quarter worth about $11,875,000. Bank of America Corp DE raised its holdings in shares of ADC Therapeutics by 22.1% in the 2nd quarter. Bank of America Corp DE now owns 2,199,059 shares of the company’s stock worth $5,893,000 after acquiring an additional 397,905 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of ADC Therapeutics by 2.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,640,872 shares of the company’s stock worth $5,792,000 after acquiring an additional 46,438 shares during the last quarter. Institutional investors and hedge funds own 41.10% of the company’s stock.

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.