Short Interest in ADC Therapeutics SA (NYSE:ADCT) Rises By 36.9%

ADC Therapeutics SA (NYSE:ADCT) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 4,120,000 shares, an increase of 36.9% from the November 30th total of 3,010,000 shares. Based on an average daily volume of 793,100 shares, the short-interest ratio is presently 5.2 days.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. HC Wainwright reissued a “buy” rating on shares of ADC Therapeutics in a research note on Wednesday, December 11th. Guggenheim reissued a “buy” rating and set a $10.00 target price on shares of ADC Therapeutics in a research note on Thursday, December 12th. Finally, Stephens began coverage on shares of ADC Therapeutics in a research note on Friday, November 8th. They issued an “overweight” rating and a $6.00 price target on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, ADC Therapeutics has a consensus rating of “Buy” and an average price target of $8.00.

Insider Buying and Selling at ADC Therapeutics

In related news, major shareholder Redmile Group, Llc purchased 100,000 shares of ADC Therapeutics stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average cost of $3.04 per share, for a total transaction of $304,000.00. Following the transaction, the insider now directly owns 13,145,712 shares of the company’s stock, valued at approximately $39,962,964.48. This trade represents a 0.77 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On ADC Therapeutics

Several hedge funds have recently bought and sold shares of ADCT. Susquehanna Fundamental Investments LLC acquired a new stake in shares of ADC Therapeutics during the second quarter worth $33,000. Intech Investment Management LLC acquired a new stake in ADC Therapeutics in the 3rd quarter worth about $41,000. Acadian Asset Management LLC bought a new stake in ADC Therapeutics in the 2nd quarter valued at about $51,000. Readystate Asset Management LP acquired a new position in shares of ADC Therapeutics during the 3rd quarter worth approximately $54,000. Finally, SG Americas Securities LLC bought a new position in shares of ADC Therapeutics during the third quarter worth approximately $84,000. 41.10% of the stock is currently owned by institutional investors and hedge funds.

ADC Therapeutics Price Performance

NYSE ADCT traded down $0.13 on Monday, hitting $1.90. 603,780 shares of the stock were exchanged, compared to its average volume of 714,708. The company has a market capitalization of $183.71 million, a PE ratio of -0.79 and a beta of 1.52. The business’s fifty day moving average is $2.49 and its 200 day moving average is $2.88. ADC Therapeutics has a 52 week low of $1.45 and a 52 week high of $6.04.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.06). The business had revenue of $18.46 million during the quarter, compared to analysts’ expectations of $18.76 million. During the same quarter last year, the company earned ($0.58) EPS. Analysts predict that ADC Therapeutics will post -1.67 EPS for the current fiscal 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.