ADC Therapeutics SA (NYSE:ADCT) Sees Large Decrease in Short Interest

ADC Therapeutics SA (NYSE:ADCT - Get Free Report) was the target of a large decline in short interest in January. As of January 31st, there was short interest totalling 4,860,000 shares, a decline of 6.2% from the January 15th total of 5,180,000 shares. Based on an average trading volume of 921,800 shares, the short-interest ratio is currently 5.3 days.

Analyst Ratings Changes

Several brokerages have recently commented on ADCT. Guggenheim restated a "buy" rating and set a $10.00 price target on shares of ADC Therapeutics in a research note on Thursday, December 12th. Stephens initiated coverage on ADC Therapeutics in a report on Friday, November 8th. They set an "overweight" rating and a $6.00 target price on the stock. Finally, HC Wainwright reiterated a "buy" rating and set a $8.00 price target on shares of ADC Therapeutics in a research note on Monday, January 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ADC Therapeutics has a consensus rating of "Buy" and a consensus target price of $8.00.

Insider Activity

In other news, major shareholder Redmile Group, Llc purchased 100,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was acquired at an average price of $3.04 per share, with a total value of $304,000.00. Following the purchase, the insider now owns 13,145,712 shares in the company, valued at $39,962,964.48. This represents a 0.77 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Intech Investment Management LLC bought a new stake in ADC Therapeutics in the 3rd quarter valued at $41,000. Kazazian Asset Management LLC acquired a new stake in ADC Therapeutics during the fourth quarter worth about $26,000. Two Sigma Securities LLC bought a new position in ADC Therapeutics during the fourth quarter valued at about $30,000. Russell Investments Group Ltd. raised its holdings in ADC Therapeutics by 122.6% in the 4th quarter. Russell Investments Group Ltd. now owns 16,794 shares of the company's stock valued at $33,000 after acquiring an additional 9,248 shares in the last quarter. Finally, Readystate Asset Management LP bought a new stake in shares of ADC Therapeutics in the 3rd quarter worth approximately $54,000. 41.10% of the stock is currently owned by institutional investors and hedge funds.

ADC Therapeutics Trading Down 2.1 %

ADC Therapeutics stock traded down $0.04 on Friday, reaching $1.64. 320,707 shares of the stock were exchanged, compared to its average volume of 534,799. ADC Therapeutics has a twelve month low of $1.39 and a twelve month high of $5.38. The firm has a fifty day moving average price of $1.80 and a two-hundred day moving average price of $2.46. The stock has a market cap of $158.09 million, a PE ratio of -0.68 and a beta of 1.54.

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.