HC Wainwright Reaffirms “Buy” Rating for ADC Therapeutics (NYSE:ADCT)

HC Wainwright restated their buy rating on shares of ADC Therapeutics (NYSE:ADCT) in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a $8.00 target price on the stock.

ADCT has been the topic of a number of other reports. Stephens started coverage on ADC Therapeutics in a research note on Friday, November 8th. They issued an “overweight” rating and a $6.00 target price on the stock. Guggenheim reaffirmed a “buy” rating and set a $10.00 price objective on shares of ADC Therapeutics in a research report on Thursday, December 12th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $8.00.

ADC Therapeutics Trading Down 3.8 %

NYSE ADCT opened at $1.93 on Monday. ADC Therapeutics has a 12 month low of $1.71 and a 12 month high of $6.04. The stock has a market cap of $186.13 million, a P/E ratio of -0.81 and a beta of 1.55. The stock’s fifty day moving average price is $2.33 and its 200-day moving average price is $2.83.

ADC Therapeutics (NYSE:ADCT) last released its earnings results on Thursday, November 7th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.06). The firm had revenue of $18.46 million during the quarter, compared to analysts’ expectations of $18.76 million. During the same quarter in the prior year, the company posted ($0.58) earnings per share. As a group, analysts forecast that ADC Therapeutics will post -1.67 earnings per share for the current fiscal year.

Insider Activity at ADC Therapeutics

In other news, major shareholder Redmile Group, Llc bought 100,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were bought at an average price of $3.04 per share, with a total value of $304,000.00. Following the completion of the acquisition, the insider now owns 13,145,712 shares in the company, valued at $39,962,964.48. The trade was a 0.77 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC bought a new position in ADC Therapeutics in the second quarter valued at about $33,000. Intech Investment Management LLC bought a new position in ADC Therapeutics in the third quarter valued at about $41,000. Acadian Asset Management LLC bought a new position in shares of ADC Therapeutics in the second quarter worth about $51,000. Readystate Asset Management LP bought a new position in shares of ADC Therapeutics in the third quarter worth about $54,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of ADC Therapeutics by 10.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 194,258 shares of the company’s stock worth $612,000 after buying an additional 18,796 shares during the period. Institutional investors 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.