ADC Therapeutics (ADCT) to Release Quarterly Earnings on Wednesday

ADC Therapeutics (NYSE:ADCT) is expected to be issuing its quarterly earnings data before the market opens on Wednesday, March 12th. Analysts expect the company to announce earnings of ($0.38) per share and revenue of $19.01 million for the quarter.

ADC Therapeutics Trading Down 6.3 %

Shares of ADC Therapeutics stock opened at $1.73 on Tuesday. The stock has a 50 day moving average of $1.72 and a 200 day moving average of $2.37. ADC Therapeutics has a 12 month low of $1.39 and a 12 month high of $5.38. The firm has a market cap of $166.79 million, a PE ratio of -0.72 and a beta of 1.51.

Analysts Set New Price Targets

ADCT has been the topic of a number of analyst reports. Guggenheim reaffirmed a “buy” rating and set a $10.00 target price on shares of ADC Therapeutics in a research note on Thursday, December 12th. Stephens upped their target price on ADC Therapeutics from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ADC Therapeutics in a research report on Friday. Finally, HC Wainwright restated a “buy” rating and set a $8.00 price objective on shares of ADC Therapeutics in a report on Monday, January 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $8.50.

Insider Buying and Selling at ADC Therapeutics

In related news, major shareholder Redmile Group, Llc bought 100,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average cost of $3.04 per share, with a total value of $304,000.00. Following the purchase, the insider now directly owns 13,145,712 shares of the company’s stock, valued at $39,962,964.48. This trade represents a 0.77 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 4.10% of the stock is currently owned by company insiders.

About ADC Therapeutics

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.