Guggenheim Has Lowered Expectations for ADC Therapeutics (NYSE:ADCT) Stock Price

ADC Therapeutics (NYSE:ADCT - Get Free Report) had its price objective decreased by equities research analysts at Guggenheim from $10.00 to $7.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock.

A number of other brokerages have also commented on ADCT. Cantor Fitzgerald reiterated an "overweight" rating on shares of ADC Therapeutics in a report on Friday, March 7th. HC Wainwright reissued a "buy" rating and issued a $8.00 price target on shares of ADC Therapeutics in a report on Monday. Finally, Stephens lifted their price objective on ADC Therapeutics from $6.00 to $8.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ADC Therapeutics currently has a consensus rating of "Buy" and an average target price of $7.75.

ADC Therapeutics Trading Down 6.1 %

NYSE:ADCT traded down $0.08 during mid-day trading on Monday, hitting $1.16. The company had a trading volume of 484,486 shares, compared to its average volume of 625,668. ADC Therapeutics has a 1 year low of $1.14 and a 1 year high of $5.38. The business has a fifty day simple moving average of $1.63 and a 200-day simple moving average of $2.22. The firm has a market capitalization of $111.68 million, a price-to-earnings ratio of -0.48 and a beta of 1.51.

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ADC Therapeutics (NYSE:ADCT - Get Free Report) last released its quarterly earnings results on Thursday, March 27th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.06. The company had revenue of $19.00 million for the quarter, compared to analyst estimates of $19.01 million. As a group, research analysts anticipate that ADC Therapeutics will post -1.69 earnings per share for the current year.

Institutional Trading of ADC Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. 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 valued at $49,358,000 after acquiring an additional 400,000 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of ADC Therapeutics by 164.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 78,813 shares of the company's stock worth $248,000 after buying an additional 48,976 shares during the last quarter. Platinum Investment Management Ltd. boosted its holdings in shares of ADC Therapeutics by 11.6% in the 4th quarter. Platinum Investment Management Ltd. now owns 1,612,556 shares of the company's stock valued at $3,209,000 after buying an additional 168,040 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of ADC Therapeutics by 10.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 194,258 shares of the company's stock valued at $612,000 after buying an additional 18,796 shares during the period. Finally, Geode Capital Management LLC raised its stake in ADC Therapeutics by 15.6% during the third quarter. Geode Capital Management LLC now owns 953,171 shares of the company's stock worth $3,002,000 after acquiring an additional 128,454 shares during the period. Institutional investors and hedge funds 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.