ADC Therapeutics (NYSE:ADCT) Coverage Initiated at Guggenheim

Equities research analysts at Guggenheim began coverage on shares of ADC Therapeutics (NYSE:ADCT) in a report released on Thursday, MarketBeat reports. The brokerage set a “buy” rating and a $11.00 price target on the stock. Guggenheim’s price objective would indicate a potential upside of 144.99% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $8.00 target price on shares of ADC Therapeutics in a research note on Thursday, March 14th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of ADC Therapeutics in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, ADC Therapeutics currently has a consensus rating of “Hold” and an average target price of $7.50.

ADC Therapeutics Price Performance

NYSE ADCT opened at $4.49 on Thursday. The stock has a market capitalization of $370.56 million, a PE ratio of -1.53 and a beta of 1.75. ADC Therapeutics has a 1 year low of $0.36 and a 1 year high of $6.04. The business’s 50-day moving average is $4.20 and its 200 day moving average is $2.16.

Institutional Trading of ADC Therapeutics

Several large investors have recently bought and sold shares of ADCT. Moneta Group Investment Advisors LLC boosted its position in shares of ADC Therapeutics by 112,365.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 21,933,073 shares of the company’s stock worth $84,223,000 after purchasing an additional 21,913,571 shares in the last quarter. Redmile Group LLC boosted its position in shares of ADC Therapeutics by 0.9% in the 3rd quarter. Redmile Group LLC now owns 14,178,045 shares of the company’s stock worth $12,718,000 after purchasing an additional 128,110 shares in the last quarter. Prosight Management LP boosted its position in shares of ADC Therapeutics by 71.4% in the 2nd quarter. Prosight Management LP now owns 5,583,900 shares of the company’s stock worth $12,005,000 after purchasing an additional 2,326,540 shares in the last quarter. Millennium Management LLC boosted its position in shares of ADC Therapeutics by 709.3% in the 4th quarter. Millennium Management LLC now owns 3,401,120 shares of the company’s stock worth $13,060,000 after purchasing an additional 2,980,867 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of ADC Therapeutics by 2.9% in the 1st quarter. JPMorgan Chase & Co. now owns 3,091,814 shares of the company’s stock worth $6,029,000 after purchasing an additional 87,348 shares in the last quarter. 41.10% of the stock is 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.