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

Research analysts at Guggenheim began coverage on shares of ADC Therapeutics (NYSE:ADCT) in a research report issued on Thursday, MarketBeat Ratings reports. The firm set a “buy” rating and a $11.00 price target on the stock. Guggenheim’s price objective points to a potential upside of 161.90% from the company’s current price.

Other equities analysts have also issued research reports about the stock. HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of ADC Therapeutics in a report on Wednesday, March 6th. Royal Bank of Canada restated an “outperform” rating and set a $8.00 target price on shares of ADC Therapeutics in a report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $7.50.

ADC Therapeutics Trading Down 3.4 %

Shares of ADCT opened at $4.20 on Thursday. The company’s fifty day moving average is $4.09 and its two-hundred day moving average is $2.12. ADC Therapeutics has a fifty-two week low of $0.36 and a fifty-two week high of $6.04.

Institutional Investors Weigh In On ADC Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. boosted its holdings in shares of ADC Therapeutics by 1,270.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,248 shares of the company’s stock valued at $47,000 after buying an additional 3,011 shares during the period. Quantbot Technologies LP acquired a new position in ADC Therapeutics during the 2nd quarter valued at about $38,000. Tower Research Capital LLC TRC boosted its stake in ADC Therapeutics by 1,253.3% during 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 during the period. Cubist Systematic Strategies LLC acquired a new position in ADC Therapeutics during the 3rd quarter valued at about $56,000. Finally, Prospera Financial Services Inc acquired a new position in ADC Therapeutics during the 1st quarter valued at about $25,000. 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.