ADC Therapeutics’ (ADCT) Buy Rating Reiterated at Guggenheim

Guggenheim reiterated their buy rating on shares of ADC Therapeutics (NYSE:ADCT) in a research note published on Thursday morning,Benzinga reports. Guggenheim currently has a $10.00 price objective on the stock.

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

ADC Therapeutics Price Performance

NYSE ADCT opened at $1.89 on Thursday. The company has a fifty day moving average price of $2.70 and a 200-day moving average price of $2.98. ADC Therapeutics has a 1 year low of $1.18 and a 1 year high of $6.04. The firm has a market cap of $182.74 million, a price-to-earnings ratio of -0.79 and a beta of 1.52.

ADC Therapeutics (NYSE:ADCT) last posted its earnings results on Thursday, November 7th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.06). The business had revenue of $18.46 million for the quarter, compared to analysts’ expectations of $18.76 million. During the same quarter in the prior year, the company posted ($0.58) earnings per share. On average, research analysts anticipate that ADC Therapeutics will post -1.67 EPS for the current fiscal year.

Insider Activity

In other ADC Therapeutics news, major shareholder Redmile Group, Llc bought 100,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were acquired at an average cost of $3.04 per share, for a total transaction of $304,000.00. Following the purchase, the insider now directly owns 13,145,712 shares of the company’s stock, 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 is available through the SEC website. 4.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Susquehanna Fundamental Investments LLC purchased a new stake in ADC Therapeutics in the second quarter valued at approximately $33,000. Intech Investment Management LLC bought a new position in ADC Therapeutics in the third quarter valued at $41,000. Acadian Asset Management LLC bought a new stake in ADC Therapeutics during the second quarter worth about $51,000. Readystate Asset Management LP purchased a new position in shares of ADC Therapeutics in the 3rd quarter worth about $54,000. Finally, SG Americas Securities LLC bought a new position in shares of ADC Therapeutics during the 3rd quarter valued at $84,000. Hedge funds and other institutional investors own 41.10% of the company’s stock.

About ADC Therapeutics

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.