ADC Therapeutics (NYSE:ADCT) Given New $3.00 Price Target at HC Wainwright

ADC Therapeutics (NYSE:ADCT) had its price objective decreased by HC Wainwright from $12.00 to $3.00 in a report published on Monday morning, MarketBeat.com reports. HC Wainwright currently has a buy rating on the stock.

ADCT has been the subject of a number of other research reports. Royal Bank of Canada cut their price target on shares of ADC Therapeutics from $7.00 to $6.00 and set an outperform rating for the company in a report on Wednesday, November 8th. TD Cowen reiterated a market perform rating on shares of ADC Therapeutics in a report on Thursday, November 9th. Finally, JPMorgan Chase & Co. upgraded shares of ADC Therapeutics from an underweight rating to a neutral rating in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, ADC Therapeutics has an average rating of Hold and a consensus price target of $5.75.

ADC Therapeutics Stock Up 1.0 %

Shares of NYSE ADCT opened at $0.71 on Monday. The company has a 50 day simple moving average of $0.75 and a 200-day simple moving average of $1.47. The company has a market capitalization of $54.58 million, a P/E ratio of -0.32 and a beta of 1.11. The company has a debt-to-equity ratio of 2.57, a current ratio of 4.80 and a quick ratio of 4.51. ADC Therapeutics has a 1 year low of $0.36 and a 1 year high of $5.75.

Institutional Investors Weigh In On ADC Therapeutics

Institutional investors have recently modified their holdings of the company. Advisor Group Holdings Inc. lifted its position in ADC Therapeutics by 1,270.5% in the first quarter. Advisor Group Holdings Inc. now owns 3,248 shares of the company’s stock valued at $47,000 after acquiring an additional 3,011 shares during the last quarter. Quantbot Technologies LP purchased a new stake in ADC Therapeutics in the second quarter valued at $38,000. Tower Research Capital LLC TRC lifted its position in ADC Therapeutics by 1,253.3% in the third quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company’s stock valued at $46,000 after acquiring an additional 8,773 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in ADC Therapeutics in the third quarter valued at $56,000. Finally, Prospera Financial Services Inc purchased a new stake in ADC Therapeutics in the first quarter valued at $25,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

About ADC Therapeutics

ADC Therapeutics SA, a commercial-stage biotechnology company, develops antibody drug conjugates (ADC) for patients suffering from hematological malignancies and solid tumors. Its flagship product ZYNLONTA that is in Phase II clinical trial for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL) and follicular lymphoma; and LOTIS-7, a Phase Ib clinical trial for treatment of relapsed or refractory B-cell lineage non-hodgkin lymphoma (B-NHL).