ADC Therapeutics (NYSE:ADCT) Earns Buy Rating from Guggenheim

ADC Therapeutics (NYSE:ADCT - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Guggenheim in a report released on Friday, Benzinga reports.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada restated an "outperform" rating and set a $8.00 price objective on shares of ADC Therapeutics in a research report on Thursday, March 14th. HC Wainwright restated 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 assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $7.50.

ADC Therapeutics Price Performance

Shares of NYSE:ADCT traded up $0.29 during trading on Friday, hitting $5.00. 751,228 shares of the company were exchanged, compared to its average volume of 810,776. The stock has a market capitalization of $412.24 million, a P/E ratio of -1.70 and a beta of 1.73. ADC Therapeutics has a 12-month low of $0.36 and a 12-month high of $6.04. The firm's 50 day moving average price is $4.43 and its 200-day moving average price is $2.29.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last issued its quarterly earnings data on Wednesday, March 13th. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.56). The company had revenue of $16.79 million for the quarter, compared to analysts' expectations of $16.58 million. ADC Therapeutics had a negative return on equity of 1,313.37% and a negative net margin of 344.15%. As a group, equities research analysts anticipate that ADC Therapeutics will post -2.19 EPS for the current year.

Hedge Funds Weigh In On ADC Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Holdings Inc. grew its holdings in shares of ADC Therapeutics by 1,270.5% during the first quarter. Advisor Group Holdings Inc. now owns 3,248 shares of the company's stock worth $47,000 after buying an additional 3,011 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of ADC Therapeutics during the second quarter worth about $38,000. Tower Research Capital LLC TRC boosted its holdings in ADC Therapeutics by 1,253.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company's stock valued at $46,000 after purchasing an additional 8,773 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in ADC Therapeutics in the 3rd quarter valued at approximately $56,000. Finally, Prospera Financial Services Inc purchased a new stake in ADC Therapeutics in the 1st quarter valued at approximately $25,000. 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.