ADC Therapeutics (NYSE:ADCT) Now Covered by Analysts at Stephens

Stephens assumed coverage on shares of ADC Therapeutics (NYSE:ADCT - Free Report) in a report published on Friday morning, MarketBeat.com reports. The brokerage issued an overweight rating and a $6.00 target price on the stock.

Several other analysts have also recently commented on ADCT. Royal Bank of Canada reissued an "outperform" rating and issued a $8.00 price target on shares of ADC Therapeutics in a report on Wednesday, August 7th. HC Wainwright reissued a "buy" rating and issued a $8.00 target price on shares of ADC Therapeutics in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $8.25.

ADC Therapeutics Stock Performance

ADCT traded down $0.01 during trading on Friday, hitting $2.93. The stock had a trading volume of 212,674 shares, compared to its average volume of 631,717. The firm has a market capitalization of $282.82 million, a P/E ratio of -1.15 and a beta of 1.59. ADC Therapeutics has a twelve month low of $0.36 and a twelve month high of $6.04. The company's 50-day moving average price is $3.02 and its 200 day moving average price is $3.33.

ADC Therapeutics (NYSE:ADCT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.06. The firm had revenue of $17.41 million for the quarter, compared to analysts' expectations of $19.06 million. During the same period in the prior year, the company earned ($0.58) earnings per share. As a group, equities analysts expect that ADC Therapeutics will post -1.72 earnings per share for the current fiscal year.

Institutional Trading of ADC Therapeutics

A number of institutional investors have recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC acquired a new position in ADC Therapeutics during the second quarter worth about $33,000. Acadian Asset Management LLC purchased a new position in shares of ADC Therapeutics during the 2nd quarter worth approximately $51,000. SG Americas Securities LLC acquired a new position in shares of ADC Therapeutics during the 3rd quarter worth approximately $84,000. The Manufacturers Life Insurance Company purchased a new stake in ADC Therapeutics in the 2nd quarter valued at approximately $85,000. Finally, XTX Topco Ltd grew its holdings in ADC Therapeutics by 129.0% during the 2nd quarter. XTX Topco Ltd now owns 56,863 shares of the company's stock valued at $180,000 after buying an additional 32,034 shares during the last quarter. 41.10% of the stock is currently owned by hedge funds and other institutional investors.

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.