ADC Therapeutics (NYSE:ADCT) Receives “Buy” Rating from HC Wainwright

ADC Therapeutics (NYSE:ADCT)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports.

Separately, Stephens assumed coverage on shares of ADC Therapeutics in a report on Friday, November 8th. They issued an “overweight” rating and a $6.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $8.25.

ADC Therapeutics Trading Down 36.2 %

Shares of NYSE:ADCT traded down $1.26 during midday trading on Wednesday, hitting $2.22. 3,568,721 shares of the stock were exchanged, compared to its average volume of 684,967. ADC Therapeutics has a twelve month low of $0.98 and a twelve month high of $6.04. The company has a 50 day moving average price of $2.76 and a 200-day moving average price of $3.01. The stock has a market cap of $214.65 million, a P/E ratio of -0.90 and a beta of 1.52.

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 for the quarter, compared to analyst estimates of $18.76 million. During the same quarter in the previous year, the company earned ($0.58) EPS. On average, equities research analysts expect that ADC Therapeutics will post -1.67 earnings per share for the current year.

Insider Buying and Selling

In other ADC Therapeutics news, major shareholder Redmile Group, Llc sold 25,352 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $2.07, for a total value of $52,478.64. Following the sale, the insider now directly owns 15,566,731 shares in the company, valued at approximately $32,223,133.17. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ADC Therapeutics

A number of hedge funds have recently added to or reduced their stakes in ADCT. Susquehanna Fundamental Investments LLC acquired a new position in shares of ADC Therapeutics during the second quarter valued at $33,000. Intech Investment Management LLC acquired a new position in shares of ADC Therapeutics during the third quarter valued at $41,000. Acadian Asset Management LLC acquired a new position in shares of ADC Therapeutics during the second quarter valued at $51,000. Readystate Asset Management LP acquired a new position in shares of ADC Therapeutics during the third quarter valued at $54,000. Finally, SG Americas Securities LLC acquired a new position in shares of ADC Therapeutics during the third quarter valued at $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.