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

ADC Therapeutics (NYSE:ADCT) had its price objective upped by Stephens from $6.00 to $8.00 in a research report sent to investors on Monday,Benzinga reports. Stephens currently has an overweight rating on the stock.

ADCT has been the subject of several other reports. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 target price on shares of ADC Therapeutics in a research report on Monday, January 6th. Guggenheim restated a “buy” rating and issued a $10.00 price objective on shares of ADC Therapeutics in a research note on Thursday, December 12th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, ADC Therapeutics presently has a consensus rating of “Buy” and an average price target of $8.50.

ADC Therapeutics Stock Down 2.1 %

ADC Therapeutics stock opened at $1.60 on Monday. The business has a 50 day moving average price of $1.79 and a two-hundred day moving average price of $2.45. ADC Therapeutics has a 12 month low of $1.39 and a 12 month high of $5.38. The stock has a market cap of $154.22 million, a price-to-earnings ratio of -0.67 and a beta of 1.54.

Insider Buying and Selling

In related news, major shareholder Redmile Group, Llc sold 25,352 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $2.07, for a total transaction of $52,478.64. Following the completion of the sale, the insider now directly owns 15,566,731 shares of the company’s stock, valued at $32,223,133.17. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ADC Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Woodline Partners LP bought a new position in shares of ADC Therapeutics in the fourth quarter valued at about $3,848,000. Orbimed Advisors LLC increased its position 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 acquiring an additional 1,434,650 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of ADC Therapeutics in the fourth quarter worth about $1,426,000. Redmile Group LLC lifted its position in shares of ADC Therapeutics by 2.6% during the third quarter. Redmile Group LLC now owns 15,669,217 shares of the company’s stock worth $49,358,000 after purchasing an additional 400,000 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of ADC Therapeutics during the third quarter valued at approximately $531,000. 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.