ADC Therapeutics (NYSE:ADCT) Stock Price Expected to Rise, Stephens Analyst Says

ADC Therapeutics (NYSE:ADCT) had its price target raised by Stephens from $6.00 to $8.00 in a research note published on Monday morning,Benzinga reports. Stephens currently has an overweight rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Guggenheim reissued a “buy” rating and issued a $10.00 price objective on shares of ADC Therapeutics in a research note on Thursday, December 12th. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of ADC Therapeutics in a research note on Monday, January 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ADC Therapeutics has a consensus rating of “Buy” and a consensus price target of $8.50.

ADC Therapeutics Price Performance

ADCT stock opened at $1.61 on Monday. The company has a market cap of $155.96 million, a price-to-earnings ratio of -0.67 and a beta of 1.54. ADC Therapeutics has a 12 month low of $1.39 and a 12 month high of $5.38. The company has a fifty day moving average price of $1.77 and a 200 day moving average price of $2.44.

Insider Buying and Selling at ADC Therapeutics

In other ADC Therapeutics news, major shareholder Redmile Group, Llc purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were purchased at an average cost of $3.04 per share, with a total value of $304,000.00. Following the purchase, the insider now owns 13,145,712 shares in the company, valued at approximately $39,962,964.48. This represents a 0.77 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On ADC Therapeutics

A number of institutional investors have recently bought and sold shares of ADCT. Redmile Group LLC boosted its holdings in ADC Therapeutics by 2.6% in the third quarter. Redmile Group LLC now owns 15,669,217 shares of the company’s stock valued at $49,358,000 after acquiring an additional 400,000 shares during the last quarter. Orbimed Advisors LLC lifted its position in ADC Therapeutics by 31.6% during the 4th quarter. Orbimed Advisors LLC now owns 5,968,451 shares of the company’s stock worth $11,877,000 after acquiring an additional 1,434,650 shares in the last quarter. Woodline Partners LP acquired a new position in shares of ADC Therapeutics during the fourth quarter worth $3,848,000. Platinum Investment Management Ltd. lifted its holdings in ADC Therapeutics by 11.6% in the 4th quarter. Platinum Investment Management Ltd. now owns 1,612,556 shares of the company’s stock worth $3,209,000 after buying an additional 168,040 shares in the last quarter. Finally, State Street Corp boosted its position in ADC Therapeutics by 11.6% in the 3rd quarter. State Street Corp now owns 1,106,011 shares of the company’s stock valued at $3,484,000 after buying an additional 114,715 shares during the last quarter. 41.10% of the stock is currently owned by hedge funds and other 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.