ADC Therapeutics (NYSE:ADCT) Rating Reiterated by HC Wainwright

HC Wainwright reiterated their buy rating on shares of ADC Therapeutics (NYSE:ADCT - Free Report) in a report published on Monday morning, Benzinga reports. They currently have a $9.00 target price on the stock.

Other analysts also recently issued reports about the company. Royal Bank of Canada reiterated an outperform rating and set a $8.00 target price on shares of ADC Therapeutics in a research report on Thursday, March 14th. Guggenheim reiterated a buy rating on shares of ADC Therapeutics in a research report on Friday, April 5th. One equities 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. Based on data from MarketBeat, ADC Therapeutics has a consensus rating of Hold and a consensus target price of $7.50.

ADC Therapeutics Price Performance

Shares of NYSE ADCT traded down $0.03 during trading on Monday, hitting $4.36. 464,478 shares of the company were exchanged, compared to its average volume of 779,887. ADC Therapeutics has a 1 year low of $0.36 and a 1 year high of $6.04. The company has a market cap of $359.83 million, a price-to-earnings ratio of -1.50 and a beta of 1.73. The firm's fifty day moving average price is $4.56 and its 200 day moving average price is $2.44.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last issued its earnings results 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). ADC Therapeutics had a negative return on equity of 1,313.37% and a negative net margin of 344.15%. The company had revenue of $16.79 million for the quarter, compared to analyst estimates of $16.58 million. On average, research analysts forecast that ADC Therapeutics will post -2.19 earnings per share for the current year.

Institutional Investors Weigh In On ADC Therapeutics

Hedge funds have recently made changes to their positions in the business. Advisor Group Holdings Inc. grew its holdings in ADC Therapeutics by 1,270.5% in the first quarter. Advisor Group Holdings Inc. now owns 3,248 shares of the company's stock valued at $47,000 after purchasing an additional 3,011 shares during the period. Quantbot Technologies LP acquired a new stake in shares of ADC Therapeutics during the 2nd quarter worth $38,000. Tower Research Capital LLC TRC raised its position in shares of 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 worth $46,000 after buying an additional 8,773 shares during the period. Cubist Systematic Strategies LLC acquired a new position in ADC Therapeutics in the third quarter valued at $56,000. Finally, Prospera Financial Services Inc purchased a new stake in ADC Therapeutics during the first quarter valued at about $25,000. 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.