Stephens Forecasts Strong Price Appreciation for ADC Therapeutics (NYSE:ADCT) Stock

ADC Therapeutics (NYSE:ADCT) had its target price hoisted by Stephens from $6.00 to $8.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Stephens’ price objective indicates a potential upside of 389.30% from the company’s previous close.

Several other equities research analysts have also issued reports on ADCT. Guggenheim restated a “buy” rating and issued a $10.00 target price on shares of ADC Therapeutics in a report on Thursday, December 12th. HC Wainwright reissued a “buy” rating and set a $8.00 price target on shares of ADC Therapeutics in a research note on Monday, January 6th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $8.50.

ADC Therapeutics Stock Performance

Shares of ADC Therapeutics stock opened at $1.64 on Monday. The stock has a market cap of $158.09 million, a price-to-earnings ratio of -0.68 and a beta of 1.54. The stock has a 50 day moving average price of $1.80 and a 200-day moving average price of $2.46. ADC Therapeutics has a one year low of $1.39 and a one year high of $5.38.

Insider Buying and Selling

In related news, major shareholder Redmile Group, Llc bought 100,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were acquired at an average price of $3.04 per share, with a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is owned by insiders.

Institutional Trading of ADC Therapeutics

A number of institutional investors have recently modified their holdings of the company. Kazazian Asset Management LLC purchased a new stake in shares of ADC Therapeutics during the 4th quarter valued at $26,000. Two Sigma Securities LLC purchased a new stake in ADC Therapeutics in the fourth quarter valued at about $30,000. Russell Investments Group Ltd. boosted its holdings in ADC Therapeutics by 122.6% in the fourth quarter. Russell Investments Group Ltd. now owns 16,794 shares of the company’s stock worth $33,000 after acquiring an additional 9,248 shares in the last quarter. Prudential Financial Inc. acquired a new stake in ADC Therapeutics in the fourth quarter worth about $35,000. Finally, Intech Investment Management LLC purchased a new stake in shares of ADC Therapeutics during the third quarter worth about $41,000. 41.10% of the stock is currently owned by 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.