ADC Therapeutics SA (NYSE:ADCT) Short Interest Update

ADC Therapeutics SA (NYSE:ADCT - Get Free Report) was the target of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 4,560,000 shares, a decrease of 14.0% from the February 28th total of 5,300,000 shares. Based on an average trading volume of 514,400 shares, the days-to-cover ratio is presently 8.9 days. Currently, 6.0% of the company's shares are sold short.

Hedge Funds Weigh In On ADC Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its holdings in shares of ADC Therapeutics by 50.3% in the fourth quarter. Wellington Management Group LLP now owns 253,342 shares of the company's stock valued at $504,000 after purchasing an additional 84,785 shares in the last quarter. Woodline Partners LP bought a new position in shares of ADC Therapeutics during the 4th quarter worth approximately $3,848,000. Squarepoint Ops LLC raised its holdings in shares of ADC Therapeutics by 42.2% in the fourth quarter. Squarepoint Ops LLC now owns 107,231 shares of the company's stock valued at $213,000 after purchasing an additional 31,839 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of ADC Therapeutics by 122.9% in the fourth quarter. Two Sigma Advisers LP now owns 65,267 shares of the company's stock worth $130,000 after purchasing an additional 35,991 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in ADC Therapeutics by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 22,901 shares of the company's stock worth $46,000 after purchasing an additional 7,535 shares during the last quarter. 41.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on ADCT shares. Cantor Fitzgerald reiterated an "overweight" rating on shares of ADC Therapeutics in a research report on Friday, March 7th. Stephens increased their target price on ADC Therapeutics from $6.00 to $8.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. HC Wainwright restated a "buy" rating and set a $8.00 target price on shares of ADC Therapeutics in a research report on Monday, March 31st. Finally, Guggenheim cut their price target on shares of ADC Therapeutics from $10.00 to $7.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $7.75.

ADC Therapeutics Trading Down 2.1 %

Shares of NYSE ADCT traded down $0.03 during mid-day trading on Monday, reaching $1.16. 283,811 shares of the company's stock were exchanged, compared to its average volume of 622,258. ADC Therapeutics has a twelve month low of $1.07 and a twelve month high of $5.38. The firm has a market capitalization of $114.44 million, a price-to-earnings ratio of -0.48 and a beta of 1.55. The business has a fifty day simple moving average of $1.62 and a 200 day simple moving average of $2.19.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last announced its earnings results on Thursday, March 27th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.06. The company had revenue of $19.00 million for the quarter, compared to analyst estimates of $19.01 million. Equities research analysts predict that ADC Therapeutics will post -1.69 earnings per share 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.