ADC Therapeutics (ADCT) Projected to Post Earnings on Wednesday

ADC Therapeutics (NYSE:ADCT - Get Free Report) will likely be announcing its earnings results 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 Stock Performance

ADC Therapeutics stock traded up $0.08 on Friday, reaching $1.83. The company's stock had a trading volume of 337,003 shares, compared to its average volume of 489,352. The business's fifty day moving average price is $1.73 and its 200 day moving average price is $2.39. The company has a market cap of $177.33 million, a price-to-earnings ratio of -0.77 and a beta of 1.51. ADC Therapeutics has a twelve month low of $1.39 and a twelve month high of $5.38.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ADCT. Stephens upped their price target on shares of ADC Therapeutics from $6.00 to $8.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. Cantor Fitzgerald reiterated an "overweight" rating on shares of ADC Therapeutics in a research report on Friday. HC Wainwright reissued a "buy" rating and issued a $8.00 price target on shares of ADC Therapeutics in a report on Monday, January 6th. Finally, Guggenheim reaffirmed a "buy" rating and set a $10.00 price objective on shares of ADC Therapeutics in a report on Thursday, December 12th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, ADC Therapeutics currently has an average rating of "Buy" and an average price target of $8.50.

Remove Ads

Insider Buying and Selling at ADC Therapeutics

In other news, major shareholder Redmile Group, Llc acquired 100,000 shares of ADC Therapeutics stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average price 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. The trade was a 0.77 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.10% of the company's stock.

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.