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

ADC Therapeutics (NYSE:ADCT)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a research report issued to clients and investors on Friday,Benzinga reports.

Several other analysts also recently weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $8.00 price target on shares of ADC Therapeutics in a research note on Monday, January 6th. Stephens raised their target price on shares of ADC Therapeutics from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $10.00 price target on shares of ADC Therapeutics in a report on Thursday, December 12th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, ADC Therapeutics currently has an average rating of “Buy” and a consensus target price of $8.50.

ADC Therapeutics Stock Performance

ADCT stock traded up $0.08 during trading on Friday, reaching $1.83. The company had a trading volume of 96,588 shares, compared to its average volume of 483,352. The firm has a 50-day simple moving average of $1.73 and a 200-day simple moving average of $2.39. The company has a market cap of $176.46 million, a price-to-earnings ratio of -0.77 and a beta of 1.51. ADC Therapeutics has a twelve month low of $1.39 and a twelve month high of $5.38.

Insider Transactions at ADC Therapeutics

In other ADC Therapeutics news, major shareholder Redmile Group, Llc acquired 100,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were bought at an average cost of $3.04 per share, with a total value of $304,000.00. Following the completion of the acquisition, the insider now owns 13,145,712 shares in the company, valued at approximately $39,962,964.48. This trade represents a 0.77 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of ADC Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Redmile Group LLC boosted 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 worth $49,358,000 after buying an additional 400,000 shares during the last quarter. JPMorgan Chase & Co. raised its stake in ADC Therapeutics by 164.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 78,813 shares of the company’s stock valued at $248,000 after purchasing an additional 48,976 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of ADC Therapeutics by 10.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 194,258 shares of the company’s stock worth $612,000 after buying an additional 18,796 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 buying an additional 128,454 shares in the last quarter. Finally, Barclays PLC raised its position in shares of ADC Therapeutics by 277.4% in the third quarter. Barclays PLC now owns 127,739 shares of the company’s stock valued at $402,000 after buying an additional 93,890 shares during the last quarter. Hedge funds and other 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.