ADC Therapeutics (NYSE:ADCT) Given "Buy" Rating at Guggenheim

Key Points

• Guggenheim has reissued a "Buy" rating for ADC Therapeutics, setting a price target of $10.00, representing a potential upside of 223.10% from the previous close.
• The stock recently traded at $3.10, with a market capitalization of $306.96 million and a P/E ratio of -2.13, indicating substantial volatility.
• Royal Bank of Canada has downgraded ADC Therapeutics from "outperform" to "moderate buy," lowering the price target from $8.00 to $5.00.

ADC Therapeutics (NYSE:ADCT - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Guggenheim in a note issued to investors on Wednesday,Benzinga reports. They currently have a $10.00 price target on the stock. Guggenheim's price objective points to a potential upside of 223.10% from the company's previous close.

Separately, Royal Bank Of Canada upgraded shares of ADC Therapeutics from an "outperform" rating to a "moderate buy" rating and cut their price objective for the stock from $8.00 to $5.00 in a research report on Friday, June 20th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $7.75.

ADC Therapeutics Stock Performance

Shares of NYSE ADCT traded up $0.16 during mid-day trading on Wednesday, reaching $3.10. The company's stock had a trading volume of 66,620 shares, compared to its average volume of 578,507. The stock has a 50-day moving average of $3.04 and a two-hundred day moving average of $2.13. The stock has a market capitalization of $306.96 million, a P/E ratio of -2.13 and a beta of 1.92. ADC Therapeutics has a 1-year low of $1.05 and a 1-year high of $3.97.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.50) EPS for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.14). The firm had revenue of $18.84 million for the quarter, compared to analyst estimates of $17.82 million. Analysts predict that ADC Therapeutics will post -1.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ADCT. Cerity Partners LLC acquired a new stake in ADC Therapeutics during the first quarter worth approximately $25,000. Atria Wealth Solutions Inc. acquired a new position in ADC Therapeutics in the 1st quarter valued at $28,000. Two Sigma Securities LLC acquired 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. Finally, ProShare Advisors LLC boosted its position in shares of ADC Therapeutics by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 22,901 shares of the company's stock worth $46,000 after purchasing an additional 7,535 shares in the last quarter. 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.

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