ADC Therapeutics (NYSE:ADCT) Earns Overweight Rating from Analysts at Stephens

Stephens initiated coverage on shares of ADC Therapeutics (NYSE:ADCT) in a report published on Friday morning, Marketbeat reports. The brokerage issued an overweight rating and a $6.00 target price on the stock.

Several other brokerages have also commented on ADCT. HC Wainwright reissued a “buy” rating and set a $8.00 price objective on shares of ADC Therapeutics in a report on Thursday, August 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $8.00 price target on shares of ADC Therapeutics in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $8.25.

ADC Therapeutics Stock Performance

Shares of ADCT stock opened at $2.93 on Friday. The company has a market capitalization of $283.30 million, a PE ratio of -1.15 and a beta of 1.59. ADC Therapeutics has a 52-week low of $0.36 and a 52-week high of $6.04. The business’s fifty day moving average is $3.02 and its 200 day moving average is $3.31.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ADCT. Sanibel Captiva Trust Company Inc. boosted its stake in shares of ADC Therapeutics by 9.7% in the 2nd quarter. Sanibel Captiva Trust Company Inc. now owns 113,000 shares of the company’s stock valued at $357,000 after purchasing an additional 10,000 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in ADC Therapeutics during the second quarter valued at about $33,000. Intech Investment Management LLC purchased a new stake in ADC Therapeutics during the third quarter valued at about $41,000. Acadian Asset Management LLC bought a new position in shares of ADC Therapeutics during the second quarter valued at about $51,000. Finally, SG Americas Securities LLC purchased a new position in shares of ADC Therapeutics in the third quarter worth about $84,000. 41.10% of the stock is currently owned by institutional investors.

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.