HC Wainwright Cuts ADC Therapeutics (NYSE:ADCT) Price Target to $8.00

ADC Therapeutics (NYSE:ADCT - Get Free Report) had its price target lowered by equities researchers at HC Wainwright from $9.00 to $8.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's target price points to a potential upside of 65.63% from the stock's previous close.

A number of other analysts also recently issued reports on ADCT. Royal Bank of Canada restated an "outperform" rating and issued a $8.00 price target on shares of ADC Therapeutics in a research report on Thursday, March 14th. Guggenheim restated a "buy" rating on shares of ADC Therapeutics in a research report on Friday, April 5th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, ADC Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $7.25.

ADC Therapeutics Stock Up 8.5 %

ADCT traded up $0.38 during trading on Tuesday, reaching $4.83. The company had a trading volume of 885,662 shares, compared to its average volume of 747,439. The stock has a market cap of $399.97 million, a P/E ratio of -1.65 and a beta of 1.69. The business has a 50 day simple moving average of $4.58 and a 200-day simple moving average of $2.87. ADC Therapeutics has a 52 week low of $0.36 and a 52 week high of $6.04.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last issued its quarterly earnings results on Monday, May 6th. The company reported ($0.56) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.56). The company had revenue of $18.05 million during the quarter, compared to the consensus estimate of $18.19 million. ADC Therapeutics had a negative return on equity of 1,313.37% and a negative net margin of 344.15%. During the same period last year, the company earned ($0.74) earnings per share. As a group, equities research analysts expect that ADC Therapeutics will post -2.2 EPS for the current fiscal year.

Institutional Trading of ADC Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in ADCT. Saxony Capital Management LLC bought a new stake in shares of ADC Therapeutics during the fourth quarter worth $34,000. Acadian Asset Management LLC increased its stake in shares of ADC Therapeutics by 613.8% during the third quarter. Acadian Asset Management LLC now owns 156,048 shares of the company's stock valued at $138,000 after buying an additional 134,186 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in shares of ADC Therapeutics by 7.1% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 70,636 shares of the company's stock valued at $317,000 after buying an additional 4,700 shares during the period. Affinity Asset Advisors LLC increased its stake in shares of ADC Therapeutics by 83.3% during the third quarter. Affinity Asset Advisors LLC now owns 1,100,000 shares of the company's stock valued at $987,000 after buying an additional 500,000 shares during the period. Finally, Redmile Group LLC increased its stake in shares of ADC Therapeutics by 0.9% during the third quarter. Redmile Group LLC now owns 14,178,045 shares of the company's stock valued at $12,718,000 after buying an additional 128,110 shares during the period. 41.10% of the stock is currently 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.