ADC Therapeutics SA (NYSE:ADCT) Sees Significant Decline in Short Interest

ADC Therapeutics SA (NYSE:ADCT) saw a significant decline in short interest in the month of 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 daily volume of 921,800 shares, the short-interest ratio is presently 5.3 days.

ADC Therapeutics Stock Performance

Shares of ADCT stock opened at $1.68 on Wednesday. The stock has a market capitalization of $161.96 million, a P/E ratio of -0.70 and a beta of 1.54. The company has a 50 day moving average price of $1.82 and a 200 day moving average price of $2.48. ADC Therapeutics has a fifty-two week low of $1.39 and a fifty-two week high of $6.04.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ADCT shares. Stephens started coverage on shares of ADC Therapeutics in a research note on Friday, November 8th. They issued an “overweight” rating and a $6.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of ADC Therapeutics in a research note on Monday, January 6th. Finally, Guggenheim reissued a “buy” rating and issued a $10.00 price target on shares of ADC Therapeutics in a research note on Thursday, December 12th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, ADC Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $8.00.

Insiders Place Their Bets

In other news, major shareholder Redmile Group, Llc sold 25,352 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $2.07, for a total value of $52,478.64. Following the sale, the insider now directly owns 15,566,731 shares of the company’s stock, valued at approximately $32,223,133.17. The trade was a 0.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Redmile Group LLC grew its holdings in shares of ADC Therapeutics by 2.6% in the third quarter. Redmile Group LLC now owns 15,669,217 shares of the company’s stock valued at $49,358,000 after purchasing an additional 400,000 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in ADC Therapeutics by 164.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 78,813 shares of the company’s stock worth $248,000 after acquiring an additional 48,976 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in ADC Therapeutics by 10.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 194,258 shares of the company’s stock worth $612,000 after acquiring an additional 18,796 shares in the last quarter. Geode Capital Management LLC grew its holdings in ADC Therapeutics by 15.6% during the 3rd quarter. Geode Capital Management LLC now owns 953,171 shares of the company’s stock worth $3,002,000 after acquiring an additional 128,454 shares in the last quarter. Finally, Barclays PLC grew its holdings in ADC Therapeutics by 277.4% during the 3rd quarter. Barclays PLC now owns 127,739 shares of the company’s stock worth $402,000 after acquiring an additional 93,890 shares in the last quarter. Institutional investors and hedge funds own 41.10% 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.