ADC Therapeutics (NYSE:ADCT) PT Lowered to $8.00 at HC Wainwright

ADC Therapeutics (NYSE:ADCT) had its price target lowered by HC Wainwright from $9.00 to $8.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a buy rating on the stock.

ADCT has been the topic of a number of other reports. Royal Bank of Canada reissued an outperform rating and issued a $8.00 price objective on shares of ADC Therapeutics in a research report on Thursday, March 14th. Guggenheim reissued 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 issued a buy rating to the company. Based on data from MarketBeat, ADC Therapeutics has an average rating of Moderate Buy and an average price target of $7.25.

ADC Therapeutics Stock Up 0.2 %

ADC Therapeutics stock opened at $4.58 on Tuesday. The firm has a market cap of $379.27 million, a PE ratio of -1.56 and a beta of 1.69. ADC Therapeutics has a 52-week low of $0.36 and a 52-week high of $6.04. The company’s 50 day moving average is $4.57 and its two-hundred day moving average is $2.91.

ADC Therapeutics (NYSE:ADCT) last announced its quarterly earnings data on Monday, May 6th. The company reported ($0.56) EPS for the quarter, meeting analysts’ consensus estimates of ($0.56). ADC Therapeutics had a negative net margin of 344.15% and a negative return on equity of 1,313.37%. The company had revenue of $18.05 million for the quarter, compared to the consensus estimate of $18.19 million. During the same period in the prior year, the firm posted ($0.74) EPS. On average, equities research analysts anticipate that ADC Therapeutics will post -2.2 earnings per share for the current fiscal year.

Insider Activity at ADC Therapeutics

In other ADC Therapeutics news, CEO Ameet Mallik sold 29,731 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $4.48, for a total transaction of $133,194.88. Following the transaction, the chief executive officer now directly owns 1,167,348 shares of the company’s stock, valued at approximately $5,229,719.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 35.40% of the stock is owned by insiders.

Hedge Funds Weigh In On ADC Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Saxony Capital Management LLC purchased a new position in shares of ADC Therapeutics in the 4th quarter valued at approximately $34,000. Hennion & Walsh Asset Management Inc. grew its position in ADC Therapeutics by 7.1% in the 1st 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 last quarter. Acadian Asset Management LLC increased its stake in ADC Therapeutics by 613.8% in the 3rd 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. Affinity Asset Advisors LLC raised its position in ADC Therapeutics by 83.3% during the 3rd quarter. Affinity Asset Advisors LLC now owns 1,100,000 shares of the company’s stock worth $987,000 after buying an additional 500,000 shares during the last quarter. Finally, Redmile Group LLC lifted its stake in shares of ADC Therapeutics by 0.9% in the 3rd quarter. Redmile Group LLC now owns 14,178,045 shares of the company’s stock worth $12,718,000 after acquiring an additional 128,110 shares during the period. Hedge funds and other institutional investors own 41.10% of the company’s stock.

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.