ADC Therapeutics SA (NYSE:ADCT) Short Interest Update

ADC Therapeutics SA (NYSE:ADCT) was the target of a large increase in short interest during 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 daily volume of 394,400 shares, the short-interest ratio is presently 9.0 days.

Analyst Ratings Changes

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

ADC Therapeutics Price Performance

ADCT stock opened at $3.22 on Thursday. ADC Therapeutics has a 52-week low of $0.36 and a 52-week high of $6.04. The company has a 50-day moving average of $2.98 and a two-hundred day moving average of $3.50. The stock has a market capitalization of $266.54 million, a price-to-earnings ratio of -1.17 and a beta of 1.58.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings results 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 last year, the company earned ($0.58) earnings per share. Equities analysts expect that ADC Therapeutics will post -1.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. raised its position in shares of ADC Therapeutics by 7.1% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 70,636 shares of the company’s stock valued at $317,000 after buying an additional 4,700 shares during the last quarter. Sanibel Captiva Trust Company Inc. raised its position in ADC Therapeutics by 9.7% in the second quarter. Sanibel Captiva Trust Company Inc. now owns 113,000 shares of the company’s stock worth $357,000 after purchasing an additional 10,000 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in ADC Therapeutics in the second quarter worth about $33,000. Acadian Asset Management LLC acquired a new position in ADC Therapeutics in the second quarter worth about $51,000. Finally, SG Americas Securities LLC acquired a new position in ADC Therapeutics in the third quarter worth about $84,000. Institutional investors and hedge funds own 41.10% of the company’s stock.

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.