Cantor Fitzgerald Reiterates "Overweight" Rating for ADC Therapeutics (NYSE:ADCT)

ADC Therapeutics (NYSE:ADCT - Get Free Report)'s stock had its "overweight" rating restated by research analysts at Cantor Fitzgerald in a research report issued on Friday,Benzinga reports.

A number of other brokerages also recently commented on ADCT. Stephens boosted their target price on shares of ADC Therapeutics from $6.00 to $8.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Guggenheim restated a "buy" rating and set a $10.00 price target on shares of ADC Therapeutics in a research report on Thursday, December 12th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $8.00 target price on shares of ADC Therapeutics in a research note on Monday, January 6th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $8.50.

ADC Therapeutics Trading Up 0.3 %

ADC Therapeutics stock traded up $0.01 during trading on Friday, reaching $1.74. The company had a trading volume of 289,739 shares, compared to its average volume of 480,531. The firm's 50-day simple moving average is $1.72 and its 200 day simple moving average is $2.37. The firm has a market capitalization of $167.76 million, a price-to-earnings ratio of -0.73 and a beta of 1.51. ADC Therapeutics has a 52 week low of $1.39 and a 52 week high of $5.38.

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Insider Transactions at ADC Therapeutics

In other news, major shareholder Redmile Group, Llc acquired 100,000 shares of the business's stock in a transaction on Wednesday, December 11th. The shares were purchased at an average price of $3.04 per share, for a total transaction of $304,000.00. Following the acquisition, the insider now directly owns 13,145,712 shares of the company's stock, valued at $39,962,964.48. This represents a 0.77 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.10% of the company's stock.

Institutional Investors Weigh In On ADC Therapeutics

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

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.