ADC Therapeutics’ (ADCT) Buy Rating Reiterated at HC Wainwright

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

Separately, Stephens assumed coverage on shares of ADC Therapeutics in a research note on Friday, November 8th. They set an “overweight” rating and a $6.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $8.00.

ADC Therapeutics Stock Performance

Shares of ADCT opened at $1.98 on Wednesday. The company has a market cap of $191.45 million, a price-to-earnings ratio of -0.83 and a beta of 1.52. The stock has a fifty day moving average price of $2.73 and a two-hundred day moving average price of $3.00. ADC Therapeutics has a 52-week low of $1.01 and a 52-week high of $6.04.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.06). The company had revenue of $18.46 million during the quarter, compared to analyst estimates of $18.76 million. During the same period last year, the company earned ($0.58) earnings per share. As a group, research analysts predict that ADC Therapeutics will post -1.67 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Redmile Group, Llc sold 25,352 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $2.07, for a total value of $52,478.64. Following the transaction, the insider now directly owns 15,566,731 shares in the company, valued at $32,223,133.17. This represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of ADC Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Sanibel Captiva Trust Company Inc. boosted its holdings in ADC Therapeutics by 9.7% during the second quarter. Sanibel Captiva Trust Company Inc. now owns 113,000 shares of the company’s stock worth $357,000 after buying an additional 10,000 shares during the last quarter. Bank of New York Mellon Corp bought a new position in ADC Therapeutics during the 2nd quarter worth approximately $648,000. Rhumbline Advisers acquired a new position in ADC Therapeutics during the second quarter valued at approximately $272,000. Acadian Asset Management LLC bought a new stake in ADC Therapeutics in the second quarter valued at approximately $51,000. Finally, XTX Topco Ltd raised its holdings in ADC Therapeutics by 129.0% in the second quarter. XTX Topco Ltd now owns 56,863 shares of the company’s stock worth $180,000 after purchasing an additional 32,034 shares during the period. Institutional investors and hedge funds 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.