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

ADC Therapeutics (NYSE:ADCT)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a report released on Friday,Benzinga reports.

Several other brokerages have also commented on ADCT. HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of ADC Therapeutics in a research report on Monday, January 6th. Guggenheim reissued a “buy” rating and set a $10.00 target price on shares of ADC Therapeutics in a research report on Thursday, December 12th. Finally, Stephens raised their price objective on ADC Therapeutics from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ADC Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $8.50.

ADC Therapeutics Stock Up 4.8 %

Shares of ADC Therapeutics stock opened at $1.83 on Friday. ADC Therapeutics has a 52-week low of $1.39 and a 52-week high of $5.38. The company has a 50 day moving average of $1.73 and a 200 day moving average of $2.38. The company has a market capitalization of $177.33 million, a P/E ratio of -0.77 and a beta of 1.51.

Insider Activity at ADC Therapeutics

In other ADC Therapeutics news, major shareholder Redmile Group, Llc acquired 100,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was purchased at an average cost of $3.04 per share, for a total transaction of $304,000.00. Following the transaction, the insider now owns 13,145,712 shares of the company’s stock, valued at $39,962,964.48. The trade was a 0.77 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ADC Therapeutics

A number of institutional investors have recently bought and sold shares of ADCT. Woodline Partners LP bought a new position in ADC Therapeutics in the 4th quarter worth approximately $3,848,000. Orbimed Advisors LLC lifted 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 acquired a new stake in shares of ADC Therapeutics in the 4th quarter valued at about $1,426,000. Redmile Group LLC grew its holdings in shares of 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 acquiring an additional 400,000 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in ADC Therapeutics during the third quarter worth about $531,000. 41.10% of the stock is currently owned by institutional investors and hedge funds.

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.