ADC Therapeutics SA (NYSE:ADCT) Receives Average Recommendation of “Hold” from Analysts

ADC Therapeutics SA (NYSE:ADCT) has been given an average rating of “Hold” by the five analysts that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $6.33.

ADCT has been the topic of a number of recent analyst reports. Guggenheim initiated coverage on shares of ADC Therapeutics in a report on Thursday. They set a “buy” rating and a $11.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $8.00 target price on shares of ADC Therapeutics in a research note on Thursday, March 14th. Finally, HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of ADC Therapeutics in a research note on Wednesday, March 6th.

ADC Therapeutics Stock Performance

Shares of ADCT stock opened at $4.20 on Thursday. ADC Therapeutics has a one year low of $0.36 and a one year high of $6.04. The company’s 50-day moving average is $4.09 and its 200 day moving average is $2.12. The company has a market capitalization of $346.63 million, a price-to-earnings ratio of -1.43 and a beta of 1.75.

Hedge Funds Weigh In On ADC Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of ADCT. Advisor Group Holdings Inc. grew its stake in ADC Therapeutics by 1,270.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,248 shares of the company’s stock valued at $47,000 after acquiring an additional 3,011 shares during the period. BlackRock Inc. lifted its position in ADC Therapeutics by 3.5% in the first quarter. BlackRock Inc. now owns 304,229 shares of the company’s stock valued at $4,469,000 after buying an additional 10,372 shares during the last quarter. Allianz Asset Management GmbH lifted its position in ADC Therapeutics by 16.9% in the first quarter. Allianz Asset Management GmbH now owns 67,810 shares of the company’s stock valued at $997,000 after buying an additional 9,780 shares during the last quarter. Employees Retirement System of Texas lifted its position in ADC Therapeutics by 12.2% in the first quarter. Employees Retirement System of Texas now owns 312,000 shares of the company’s stock valued at $4,583,000 after buying an additional 34,000 shares during the last quarter. Finally, Walleye Capital LLC increased its stake in ADC Therapeutics by 446.1% during the first quarter. Walleye Capital LLC now owns 248,354 shares of the company’s stock worth $3,648,000 after purchasing an additional 202,876 shares during the period. 41.10% of the stock is owned by hedge funds and other 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.