Research analysts at JPMorgan Chase & Co. initiated coverage on shares of ADC Therapeutics (NYSE:ADCT – Get Rating) in a research note issued to investors on Wednesday, The Fly reports. The firm set an “overweight” rating and a $5.00 price target on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 0.99% from the stock’s previous close.
A number of other equities analysts have also weighed in on the stock. Morgan Stanley lowered shares of ADC Therapeutics from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $17.00 to $11.00 in a research report on Friday, September 9th. HC Wainwright upped their price target on shares of ADC Therapeutics from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.00.
ADC Therapeutics Price Performance
Shares of NYSE:ADCT opened at $5.05 on Wednesday. The company’s fifty day moving average price is $7.18 and its 200 day moving average price is $9.24. ADC Therapeutics has a 12 month low of $4.86 and a 12 month high of $32.00. The company has a debt-to-equity ratio of 0.85, a current ratio of 5.76 and a quick ratio of 5.56. The firm has a market capitalization of $387.89 million, a P/E ratio of -2.07 and a beta of 1.11.
Institutional Investors Weigh In On ADC Therapeutics
Several institutional investors have recently bought and sold shares of ADCT. Capital Wealth Alliance LLC acquired a new stake in shares of ADC Therapeutics during the second quarter worth $31,000. Quantbot Technologies LP bought a new position in ADC Therapeutics in the 2nd quarter valued at about $38,000. Advisor Group Holdings Inc. grew its position in ADC Therapeutics by 1,270.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,248 shares of the company’s stock valued at $47,000 after buying an additional 3,011 shares in the last quarter. Cypress Capital Group bought a new position in ADC Therapeutics in the 2nd quarter valued at about $80,000. Finally, Prospera Financial Services Inc bought a new position in ADC Therapeutics in the 1st quarter valued at about $87,000.
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; Phase III clinical trial in combination with rituximab to treat relapsed or refractory DLBCL in second-line transplant-ineligible patients; and Phase I clinical trial for treatment of relapsed or refractory non-hodgkin lymphoma (NHL).
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