ADC Therapeutics SA (NYSE:ADCT) Stock Rated “Hold” by Wall Street Brokerages

Shares of ADC Therapeutics SA (NYSE:ADCT) have received a consensus rating of “Hold” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $5.00.

ADCT has been the topic of several analyst reports. Guggenheim dropped their price target on shares of ADC Therapeutics to $5.00 and set a “buy” rating on the stock in a research report on Monday, August 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ADC Therapeutics in a report on Friday, July 17th. Finally, Wall Street Zen upgraded shares of ADC Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th.

Hedge Funds Weigh In On ADC Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of ADCT. Opaleye Management Inc. purchased a new position in ADC Therapeutics during the second quarter worth approximately $749,000. AXQ Capital LP purchased a new stake in shares of ADC Therapeutics in the second quarter valued at approximately $29,000. Revolve Wealth Partners LLC acquired a new position in shares of ADC Therapeutics during the 2nd quarter worth approximately $107,000. Bank of America Corp DE raised its stake in shares of ADC Therapeutics by 2.0% during the 1st quarter. Bank of America Corp DE now owns 1,325,017 shares of the company’s stock worth $4,969,000 after buying an additional 26,433 shares during the period. Finally, Quantinno Capital Management LP raised its stake in shares of 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 buying an additional 3,894 shares during the period. Hedge funds and other institutional investors own 41.10% of the company’s stock.

ADC Therapeutics Stock Performance

ADC Therapeutics stock opened at $1.69 on Wednesday. ADC Therapeutics has a 12 month low of $0.78 and a 12 month high of $4.98. The stock’s 50 day simple moving average is $1.20 and its two-hundred day simple moving average is $2.02.

ADC Therapeutics (NYSE:ADCT) last posted its earnings results on Thursday, August 13th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.11. The firm had revenue of $19.25 million for the quarter, compared to analysts’ expectations of $18.89 million. As a group, equities research analysts expect that ADC Therapeutics will post -0.80 earnings per share for the current year.

About ADC Therapeutics

ADC Therapeutics SA (NYSE: ADCT) is a commercial-stage biopharmaceutical company focused on developing antibody-drug conjugates (ADCs) for the treatment of cancer. Its ADC technology is designed to use antibodies to selectively deliver potent cytotoxic agents to cancer cells, with the goal of limiting exposure to healthy tissue.

The company’s lead product is Zynlonta (loncastuximab tesirine-lpyl), an ADC directed at the CD19 antigen. Zynlonta is approved in the United States for the treatment of adults with relapsed or refractory large B-cell lymphoma after two or more lines of systemic therapy.