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5 stories mentioning ADCTUpdated 52m ago

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Sectors

Sector Update: Healthcare Stocks Rise Pre-Bell Wednesday

Healthcare stocks were edging higher premarket Wednesday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.07% higher and the iShares Biotechnology ETF (IBB) flat.Absci (ABSI) stock was up more than 28% after the company priced its underwritten offering of 13.5 million shares at $7.41 each, expecting to raise $100 million in gross proceeds. The financing includes participation from Eli Lilly (LLY), Absci said.Natera (NTRA) shares were up more than 3% after the company said it has secured regulatory clearance from Japan's Pharmaceuticals and Medical Devices Agency for its Signatera molecular residual disease, or MRD, test for use in patients with colorectal cancer.ADC Therapeutics (ADCT) stock was down more than 2% after the company said it will reduce its global workforce by about 17% as it shifts resources toward the Zynlonta franchise and seeks operational efficiencies.

$ABSI$ADCT$IBB$NTRA$XLV
Wire

ADC Therapeutics Shares Fall After HC Wainwright Downgrade

ADC Therapeutics (ADCT) shares fell more than 9% in Monday afternoon trading after HC Wainwright downgraded the stock to neutral from buy.Trading volume stood at over 9.3 million shares compared with a daily average of around 990,000.Price: $0.93, Change: $-0.10, Percent Change: -9.32%

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Research

HC Wainwright Downgrades ADC Therapeutics to Neutral From Buy

ADC Therapeutics Ltd (ADCT) has an average rating of overweight and mean price target of $4.75, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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Wire

Top Midday Decliners

Broadcom's (AVGO) decision not to upgrade its 2027 artificial intelligence guidance apparently disappointed investors, especially as the chip designer reported strong semiconductor demand, UBS Securities said in a client note sent Thursday.Shares dropped 13%, with intraday trading volume rising to more than 62.1 million from the stock's daily average of about 24.4 million.ADC Therapeutics (ADCT) shares sank 55% amid heavy trading after RBC downgraded the company's stock rating and lowered its price target to $2 from $6, following new late-stage trial data for the company's lymphoma therapy Zynlonta.More than 9.1 million shares of the company traded intraday compared with a daily average of about 990,000.Xos (XOS) has announced a registered direct offering of about 1.09 million common shares at $5.50 per share, for gross proceeds of about $6 million, the company said Thursday.Shares sank 26% following an increase in intraday trading volume to over 10.8 million from a daily average of about 2.24 million.Price: $417.61, Change: $-61.62, Percent Change: -12.86%

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Research

RBC Downgrades ADC Therapeutics to Sector Perform From Outperform, Cuts Price Target to $2 From $6, Keeps Speculative Risk

ADC Therapeutics (ADCT) has an average rating of buy and mean price target of $7.40, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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