ADC Therapeutics SA (NYSE:ADCT) Short Interest Update

ADC Therapeutics SA (NYSE:ADCT) was the target of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 4,560,000 shares, a decrease of 14.0% from the February 28th total of 5,300,000 shares. Approximately 6.0% of the shares of the stock are short sold. Based on an average daily volume of 514,400 shares, the days-to-cover ratio is presently 8.9 days.

Analysts Set New Price Targets

A number of equities analysts have commented on ADCT shares. Cantor Fitzgerald restated an “overweight” rating on shares of ADC Therapeutics in a research report on Friday, March 7th. Guggenheim cut their target price on shares of ADC Therapeutics from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Monday. Stephens increased their price target on ADC Therapeutics from $6.00 to $8.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $8.00 price target on shares of ADC Therapeutics in a report on Monday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $7.75.

Institutional Investors Weigh In On ADC Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Redmile Group LLC increased its position in ADC Therapeutics by 2.6% in the third quarter. Redmile Group LLC now owns 15,669,217 shares of the company’s stock worth $49,358,000 after purchasing an additional 400,000 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of ADC Therapeutics by 164.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 78,813 shares of the company’s stock valued at $248,000 after purchasing an additional 48,976 shares during the last quarter. Platinum Investment Management Ltd. grew its position in shares of ADC Therapeutics by 11.6% during the 4th quarter. Platinum Investment Management Ltd. now owns 1,612,556 shares of the company’s stock worth $3,209,000 after buying an additional 168,040 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of ADC Therapeutics by 10.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 194,258 shares of the company’s stock worth $612,000 after buying an additional 18,796 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of ADC Therapeutics by 15.6% during the third quarter. Geode Capital Management LLC now owns 953,171 shares of the company’s stock worth $3,002,000 after buying an additional 128,454 shares during the last quarter. Institutional investors own 41.10% of the company’s stock.

ADC Therapeutics Stock Performance

Shares of NYSE ADCT traded down $0.02 during trading on Wednesday, reaching $1.34. The company had a trading volume of 91,039 shares, compared to its average volume of 449,061. ADC Therapeutics has a 52 week low of $1.28 and a 52 week high of $5.38. The business’s 50 day moving average price is $1.65 and its 200-day moving average price is $2.23. The stock has a market cap of $129.08 million, a PE ratio of -0.56 and a beta of 1.51.

ADC Therapeutics (NYSE:ADCT) last posted its quarterly earnings data on Thursday, March 27th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.06. The company had revenue of $19.00 million during the quarter, compared to the consensus estimate of $19.01 million. Equities analysts anticipate that ADC Therapeutics will post -1.69 earnings per share for the current year.

ADC Therapeutics Company Profile

ADC Therapeutics SA focuses on advancing its proprietary antibody drug conjugate (ADC) technology platform to transform the treatment paradigm for patients with hematologic malignancies and solid tumors. Its flagship product is ZYNLONTA, a CD19-directed ADC, received accelerated approval from the U.S.