ADC Therapeutics (NYSE:ADCT) Price Target Raised to $8.00

ADC Therapeutics (NYSE:ADCT) had its price objective boosted by equities research analysts at Stephens from $6.00 to $8.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Stephens’ target price would indicate a potential upside of 411.18% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. Guggenheim reaffirmed a “buy” rating and set a $10.00 target price on shares of ADC Therapeutics in a research report on Thursday, December 12th. HC Wainwright reaffirmed a “buy” rating and set a $8.00 target price on shares of ADC Therapeutics in a research report on Monday, January 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $8.50.

ADC Therapeutics Stock Down 2.2 %

NYSE:ADCT opened at $1.57 on Monday. ADC Therapeutics has a 12 month low of $1.39 and a 12 month high of $5.38. The firm has a market cap of $151.32 million, a price-to-earnings ratio of -0.65 and a beta of 1.54. The company’s 50 day moving average is $1.78 and its 200-day moving average is $2.44.

Insider Buying and Selling

In other ADC Therapeutics news, major shareholder Redmile Group, Llc sold 25,352 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $2.07, for a total value of $52,478.64. Following the sale, the insider now owns 15,566,731 shares of the company’s stock, valued at $32,223,133.17. The trade was a 0.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ADC Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of ADCT. Woodline Partners LP bought a new stake in ADC Therapeutics in the 4th quarter valued at $3,848,000. Orbimed Advisors LLC increased its holdings in ADC Therapeutics by 31.6% in the 4th quarter. Orbimed Advisors LLC now owns 5,968,451 shares of the company’s stock valued at $11,877,000 after buying an additional 1,434,650 shares during the period. BNP Paribas Financial Markets bought a new stake in ADC Therapeutics in the 4th quarter valued at $1,426,000. Redmile Group LLC increased its holdings in ADC Therapeutics by 2.6% in the 3rd quarter. Redmile Group LLC now owns 15,669,217 shares of the company’s stock valued at $49,358,000 after buying an additional 400,000 shares during the period. Finally, Wellington Management Group LLP bought a new stake in ADC Therapeutics in the 3rd quarter valued at $531,000. Institutional investors 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.