Short Interest in ADC Therapeutics SA (NYSE:ADCT) Expands By 8.2%

ADC Therapeutics SA (NYSE:ADCTGet Free Report) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 939,800 shares, a growth of 8.2% from the February 29th total of 868,800 shares. Based on an average daily volume of 806,500 shares, the short-interest ratio is currently 1.2 days. Currently, 1.7% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ADCT. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of ADC Therapeutics in a report on Wednesday, March 6th. Guggenheim initiated coverage on shares of ADC Therapeutics in a research report on Thursday, March 28th. They set a “buy” rating and a $11.00 target price for the company. Finally, Royal Bank of Canada restated an “outperform” rating and set a $8.00 target price on shares of ADC Therapeutics in a research report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.50.

Check Out Our Latest Stock Analysis on ADCT

ADC Therapeutics Stock Performance

Shares of ADCT traded up $0.01 during mid-day trading on Wednesday, reaching $4.32. The stock had a trading volume of 105,675 shares, compared to its average volume of 801,577. ADC Therapeutics has a 12 month low of $0.36 and a 12 month high of $6.04. The business has a fifty day moving average of $4.29 and a 200 day moving average of $2.22.

Hedge Funds Weigh In On ADC Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its position in shares of ADC Therapeutics by 613.8% during the third quarter. Acadian Asset Management LLC now owns 156,048 shares of the company’s stock worth $138,000 after acquiring an additional 134,186 shares during the last quarter. Redmile Group LLC raised its stake in ADC Therapeutics by 0.9% during the third quarter. Redmile Group LLC now owns 14,178,045 shares of the company’s stock valued at $12,718,000 after purchasing an additional 128,110 shares in the last quarter. Affinity Asset Advisors LLC raised its stake in ADC Therapeutics by 83.3% during the third quarter. Affinity Asset Advisors LLC now owns 1,100,000 shares of the company’s stock valued at $987,000 after purchasing an additional 500,000 shares in the last quarter. IHT Wealth Management LLC bought a new position in ADC Therapeutics during the fourth quarter valued at $58,000. Finally, Cubist Systematic Strategies LLC bought a new position in ADC Therapeutics during the third quarter valued at $56,000. Institutional investors own 41.10% of the company’s stock.

ADC Therapeutics Company Profile

(Get Free Report)

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.

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