Short Interest in ADC Therapeutics SA (NYSE:ADCT) Increases By 13.4%

ADC Therapeutics SA (NYSE:ADCT) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 3,560,000 shares, an increase of 13.4% from the September 15th total of 3,140,000 shares. Based on an average trading volume of 394,400 shares, the short-interest ratio is currently 9.0 days.

Hedge Funds Weigh In On ADC Therapeutics

Several institutional investors have recently added to or reduced their stakes in ADCT. Susquehanna Fundamental Investments LLC bought a new position in shares of ADC Therapeutics in the second quarter worth about $33,000. Acadian Asset Management LLC bought a new position in ADC Therapeutics in the 2nd quarter valued at $51,000. SG Americas Securities LLC acquired a new stake in shares of ADC Therapeutics in the 3rd quarter valued at $84,000. The Manufacturers Life Insurance Company bought a new stake in shares of ADC Therapeutics during the second quarter worth $85,000. Finally, XTX Topco Ltd lifted its stake in shares of ADC Therapeutics by 129.0% during the second quarter. XTX Topco Ltd now owns 56,863 shares of the company’s stock valued at $180,000 after acquiring an additional 32,034 shares during the period. 41.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ADCT has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of ADC Therapeutics in a research note on Thursday, August 8th. Royal Bank of Canada restated an “outperform” rating and set a $8.00 price objective on shares of ADC Therapeutics in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, ADC Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

ADC Therapeutics Trading Down 0.8 %

Shares of ADCT stock opened at $3.06 on Tuesday. The firm has a market capitalization of $252.88 million, a P/E ratio of -1.11 and a beta of 1.58. ADC Therapeutics has a 1 year low of $0.36 and a 1 year high of $6.04. The firm’s fifty day simple moving average is $2.96 and its 200 day simple moving average is $3.52.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.06. The firm had revenue of $17.41 million for the quarter, compared to the consensus estimate of $19.06 million. During the same quarter in the prior year, the firm posted ($0.58) earnings per share. Equities research analysts anticipate that ADC Therapeutics will post -1.69 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.