ADC Therapeutics (NYSE:ADCT) Price Target Raised to $8.00 at Stephens

ADC Therapeutics (NYSE:ADCT) had its price target hoisted by Stephens from $6.00 to $8.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Stephens’ price objective points to a potential upside of 389.30% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. HC Wainwright reissued a “buy” rating and issued a $8.00 price objective on shares of ADC Therapeutics in a report on Monday, January 6th. Guggenheim reissued a “buy” rating and issued a $10.00 price target on shares of ADC Therapeutics in a report on Thursday, December 12th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $8.50.

ADC Therapeutics Price Performance

NYSE ADCT opened at $1.64 on Monday. ADC Therapeutics has a 1 year low of $1.39 and a 1 year high of $5.38. The company has a market capitalization of $158.09 million, a PE ratio of -0.68 and a beta of 1.54. The company has a fifty day moving average of $1.80 and a 200 day moving average of $2.46.

Insider Activity at ADC Therapeutics

In other ADC Therapeutics news, major shareholder Redmile Group, Llc acquired 100,000 shares of the stock in a transaction dated Wednesday, December 11th. The stock was acquired at an average price of $3.04 per share, with a total value of $304,000.00. Following the completion of the purchase, the insider now owns 13,145,712 shares in the company, valued at $39,962,964.48. This trade represents a 0.77 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ADC Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Kazazian Asset Management LLC purchased a new position in shares of ADC Therapeutics in the 4th quarter valued at approximately $26,000. Two Sigma Securities LLC purchased a new position in ADC Therapeutics in the 4th quarter valued at $30,000. Russell Investments Group Ltd. increased its stake in ADC Therapeutics by 122.6% in the 4th quarter. Russell Investments Group Ltd. now owns 16,794 shares of the company’s stock valued at $33,000 after buying an additional 9,248 shares during the period. Prudential Financial Inc. purchased a new position in ADC Therapeutics during the 4th quarter worth $35,000. Finally, Intech Investment Management LLC acquired a new stake in shares of ADC Therapeutics in the 3rd quarter worth $41,000. Institutional investors and hedge funds 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.