ADC Therapeutics SA (NYSE:ADCT) Short Interest Down 9.7% in October

ADC Therapeutics SA (NYSE:ADCT) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 3,170,000 shares, a decrease of 9.7% from the October 15th total of 3,510,000 shares. Based on an average daily volume of 355,600 shares, the short-interest ratio is presently 8.9 days.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Stephens started coverage on ADC Therapeutics in a research report on Friday, November 8th. They set an “overweight” rating and a $6.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $8.00 price target on shares of ADC Therapeutics in a report on Thursday, August 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $8.00 price objective on shares of ADC Therapeutics in a report on Wednesday, August 7th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, ADC Therapeutics currently has an average rating of “Buy” and an average price target of $8.25.

Institutional Investors Weigh In On ADC Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Sanibel Captiva Trust Company Inc. increased its holdings in ADC Therapeutics by 9.7% in the 2nd quarter. Sanibel Captiva Trust Company Inc. now owns 113,000 shares of the company’s stock valued at $357,000 after purchasing an additional 10,000 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of ADC Therapeutics during the second quarter worth $33,000. Intech Investment Management LLC acquired a new stake in shares of ADC Therapeutics in the third quarter valued at $41,000. Acadian Asset Management LLC purchased a new stake in shares of ADC Therapeutics in the 2nd quarter valued at $51,000. Finally, Readystate Asset Management LP acquired a new position in ADC Therapeutics during the 3rd quarter worth about $54,000. 41.10% of the stock is currently owned by institutional investors and hedge funds.

ADC Therapeutics Trading Down 11.7 %

ADC Therapeutics stock traded down $0.25 during mid-day trading on Tuesday, hitting $1.89. The company’s stock had a trading volume of 108,976 shares, compared to its average volume of 626,624. The stock’s fifty day moving average is $3.00 and its two-hundred day moving average is $3.22. The firm has a market capitalization of $182.74 million, a PE ratio of -0.79 and a beta of 1.59. ADC Therapeutics has a 1 year low of $0.68 and a 1 year high of $6.04.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.06). The firm had revenue of $18.46 million during the quarter, compared to analyst estimates of $18.76 million. During the same period in the previous year, the company posted ($0.58) EPS. On average, equities analysts expect that ADC Therapeutics will post -1.68 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.