Stephens Initiates Coverage on ADC Therapeutics (NYSE:ADCT)

Stephens initiated coverage on shares of ADC Therapeutics (NYSE:ADCT) in a research note issued to investors on Friday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $6.00 price target on the stock. Stephens’ price objective would suggest a potential upside of 105.13% from the stock’s previous close.

Several other research firms have also recently weighed in on ADCT. Royal Bank of Canada reissued an “outperform” rating and set a $8.00 price objective on shares of ADC Therapeutics in a report on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and set a $8.00 price objective on shares of ADC Therapeutics in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, ADC Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $8.25.

ADC Therapeutics Stock Performance

Shares of ADC Therapeutics stock opened at $2.93 on Friday. The company has a 50-day simple moving average of $3.02 and a two-hundred day simple moving average of $3.33. ADC Therapeutics has a 52-week low of $0.36 and a 52-week high of $6.04. The stock has a market capitalization of $282.82 million, a PE ratio of -1.15 and a beta of 1.59.

ADC Therapeutics (NYSE:ADCT) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.06. The company had revenue of $17.41 million for the quarter, compared to analysts’ expectations of $19.06 million. During the same period in the previous year, the firm earned ($0.58) earnings per share. As a group, equities research analysts forecast that ADC Therapeutics will post -1.72 EPS for the current fiscal year.

Institutional Trading of ADC Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADCT. Susquehanna Fundamental Investments LLC bought a new position in shares of ADC Therapeutics in the second quarter worth approximately $33,000. Acadian Asset Management LLC bought a new position in shares of ADC Therapeutics in the second quarter worth approximately $51,000. SG Americas Securities LLC bought a new position in shares of ADC Therapeutics in the third quarter worth approximately $84,000. The Manufacturers Life Insurance Company bought a new position in shares of ADC Therapeutics in the second quarter worth approximately $85,000. Finally, XTX Topco Ltd boosted its position in shares of ADC Therapeutics by 129.0% in the second quarter. XTX Topco Ltd now owns 56,863 shares of the company’s stock worth $180,000 after purchasing an additional 32,034 shares during the period. 41.10% of the stock is owned by hedge funds and other institutional investors.

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.