ADC Therapeutics SA (NYSE:ADCT) Short Interest Down 14.0% in March

ADC Therapeutics SA (NYSE:ADCT) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 4,560,000 shares, a drop of 14.0% from the February 28th total of 5,300,000 shares. Currently, 6.0% of the company’s stock are sold short. Based on an average trading volume of 514,400 shares, the short-interest ratio is presently 8.9 days.

ADC Therapeutics Price Performance

NYSE ADCT traded down $0.07 during trading on Thursday, hitting $1.26. 210,949 shares of the company’s stock traded hands, compared to its average volume of 624,102. The firm has a market cap of $121.83 million, a P/E ratio of -0.53 and a beta of 1.51. The stock has a fifty day moving average of $1.64 and a two-hundred day moving average of $2.22. ADC Therapeutics has a 12-month low of $1.22 and a 12-month high of $5.38.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings results on Thursday, March 27th. The company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.06. The business had revenue of $19.00 million for the quarter, compared to the consensus estimate of $19.01 million. As a group, analysts expect that ADC Therapeutics will post -1.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ADCT shares. HC Wainwright reissued a “buy” rating and issued a $8.00 price objective on shares of ADC Therapeutics in a research note on Monday. Cantor Fitzgerald restated an “overweight” rating on shares of ADC Therapeutics in a research note on Friday, March 7th. Guggenheim lowered their price objective on ADC Therapeutics from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Stephens boosted their price target on shares of ADC Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, ADC Therapeutics has an average rating of “Buy” and a consensus target price of $7.75.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Redmile Group LLC raised its holdings in ADC Therapeutics by 2.6% in the 3rd quarter. Redmile Group LLC now owns 15,669,217 shares of the company’s stock worth $49,358,000 after acquiring an additional 400,000 shares during the last quarter. Orbimed Advisors LLC increased its holdings in ADC Therapeutics by 31.6% during the fourth quarter. Orbimed Advisors LLC now owns 5,968,451 shares of the company’s stock valued at $11,877,000 after buying an additional 1,434,650 shares during the last quarter. Woodline Partners LP bought a new stake in shares of ADC Therapeutics during the 4th quarter valued at $3,848,000. Platinum Investment Management Ltd. grew its stake 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 valued at $3,209,000 after acquiring an additional 168,040 shares during the period. Finally, State Street Corp raised its stake in ADC Therapeutics by 11.6% during the 3rd quarter. State Street Corp now owns 1,106,011 shares of the company’s stock worth $3,484,000 after acquiring an additional 114,715 shares during the period. 41.10% of the stock is owned by hedge funds and other institutional investors.

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.