ADC Therapeutics SA (NYSE:ADCT) Receives $7.33 Average Price Target from Brokerages

Shares of ADC Therapeutics SA (NYSE:ADCT) have earned an average recommendation of “Moderate Buy” from the four ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $7.3333.

ADCT has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of ADC Therapeutics in a research report on Wednesday, January 21st. Guggenheim restated a “buy” rating and set a $10.00 price objective on shares of ADC Therapeutics in a research report on Wednesday, November 12th. Wall Street Zen upgraded shares of ADC Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $5.00 target price on shares of ADC Therapeutics in a report on Wednesday, December 3rd.

ADC Therapeutics Trading Down 1.8%

NYSE ADCT opened at $4.12 on Wednesday. ADC Therapeutics has a 12 month low of $1.05 and a 12 month high of $4.80. The stock has a market cap of $509.75 million, a price-to-earnings ratio of -2.84 and a beta of 1.92. The company’s 50 day moving average is $3.85 and its two-hundred day moving average is $3.85.

Hedge Funds Weigh In On ADC Therapeutics

Hedge funds have recently made changes to their positions in the business. Prosight Management LP grew its position in shares of ADC Therapeutics by 13.5% during the fourth quarter. Prosight Management LP now owns 8,477,338 shares of the company’s stock worth $29,925,000 after purchasing an additional 1,005,035 shares in the last quarter. Nantahala Capital Management LLC lifted its holdings in ADC Therapeutics by 141.6% in the 4th quarter. Nantahala Capital Management LLC now owns 5,475,433 shares of the company’s stock worth $19,328,000 after purchasing an additional 3,209,144 shares in the last quarter. Eventide Asset Management LLC purchased a new position in ADC Therapeutics in the 4th quarter worth approximately $11,875,000. Bank of America Corp DE boosted its stake in ADC Therapeutics by 22.1% in the 2nd quarter. Bank of America Corp DE now owns 2,199,059 shares of the company’s stock worth $5,893,000 after purchasing an additional 397,905 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in ADC Therapeutics by 2.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,640,872 shares of the company’s stock valued at $5,792,000 after buying an additional 46,438 shares in the last quarter. Institutional investors own 41.10% of the company’s stock.

ADC Therapeutics Company Profile

ADC Therapeutics SA is a clinical-stage biopharmaceutical company focused on the discovery and development of highly targeted antibody-drug conjugates (ADCs) designed to treat hematological malignancies such as non-Hodgkin lymphoma and acute myeloid leukemia. By marrying the specificity of monoclonal antibodies with potent cytotoxic payloads, the company aims to maximize tumor cell eradication while limiting off-target toxicity.

At the core of ADC Therapeutics’ portfolio is loncastuximab tesirine-lpyl, a CD19-directed ADC that received accelerated approval from the U.S.