ADC Therapeutics’ (ADCT) Buy Rating Reaffirmed at Guggenheim

Guggenheim reissued their buy rating on shares of ADC Therapeutics (NYSE:ADCT) in a research report released on Thursday morning,Benzinga reports. They currently have a $10.00 price objective on the stock.

Several other equities research analysts have also issued reports on ADCT. HC Wainwright restated a “buy” rating on shares of ADC Therapeutics in a report on Wednesday. Stephens started coverage on ADC Therapeutics in a research report on Friday, November 8th. They issued an “overweight” rating and a $6.00 price objective on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $8.00.

ADC Therapeutics Price Performance

NYSE:ADCT opened at $1.89 on Thursday. ADC Therapeutics has a 1-year low of $1.18 and a 1-year high of $6.04. The company has a market capitalization of $182.74 million, a PE ratio of -0.79 and a beta of 1.52. The firm’s 50-day moving average price is $2.70 and its 200-day moving average price is $2.98.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.06). The company had revenue of $18.46 million during the quarter, compared to the consensus estimate of $18.76 million. During the same period last year, the firm earned ($0.58) EPS. Equities analysts anticipate that ADC Therapeutics will post -1.67 EPS for the current fiscal year.

Insider Buying and Selling

In other ADC Therapeutics news, major shareholder Redmile Group, Llc acquired 100,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was bought at an average cost of $3.04 per share, with a total value of $304,000.00. Following the completion of the purchase, the insider now directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On ADC Therapeutics

Several large investors have recently modified their holdings of ADCT. Wilmington Savings Fund Society FSB purchased a new position in shares of ADC Therapeutics in the 3rd quarter valued at $315,000. Barclays PLC raised its stake in shares of 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. Geode Capital Management LLC lifted its position in ADC Therapeutics by 15.6% during the third quarter. Geode Capital Management LLC now owns 953,171 shares of the company’s stock valued at $3,002,000 after acquiring an additional 128,454 shares during the last quarter. XTX Topco Ltd lifted its position in ADC Therapeutics by 102.4% during the third quarter. XTX Topco Ltd now owns 115,073 shares of the company’s stock valued at $362,000 after acquiring an additional 58,210 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in ADC Therapeutics by 272.4% in the third quarter. Jane Street Group LLC now owns 53,126 shares of the company’s stock valued at $167,000 after acquiring an additional 38,859 shares in the last quarter. 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.