ADC Therapeutics SA (NYSE:ADCT – Get Free Report) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 993,100 shares, a growth of 5.7% from the March 15th total of 939,800 shares. Based on an average daily volume of 791,000 shares, the days-to-cover ratio is presently 1.3 days. Approximately 1.8% of the shares of the company are short sold.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the company. Guggenheim reaffirmed a “buy” rating on shares of ADC Therapeutics in a report on Friday, April 5th. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of ADC Therapeutics in a report on Monday. 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 Thursday, March 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, ADC Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $7.50.
Check Out Our Latest Report on ADC Therapeutics
Hedge Funds Weigh In On ADC Therapeutics
ADC Therapeutics Stock Performance
NYSE ADCT traded up $0.07 on Wednesday, reaching $4.44. 238,230 shares of the stock traded hands, compared to its average volume of 463,759. The firm’s fifty day simple moving average is $4.59 and its 200 day simple moving average is $2.49. ADC Therapeutics has a 12 month low of $0.36 and a 12 month high of $6.04.
ADC Therapeutics (NYSE:ADCT – Get Free Report) last issued its quarterly earnings results on Wednesday, March 13th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.56). The firm had revenue of $16.79 million for the quarter, compared to the consensus estimate of $16.58 million. ADC Therapeutics had a negative net margin of 344.15% and a negative return on equity of 1,313.37%. Research analysts forecast that ADC Therapeutics will post -2.19 EPS for the current fiscal year.
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.
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