The maintenance of a Buy rating suggests a positive outlook on ADC Therapeutics by HC Wainwright & Co., indicating confidence in the company's fundamentals or growth prospects. However, the reduction in the price target from $9 to $8 could reflect a revised valuation model or changes in market conditions that slightly temper expectations for the stock's performance. This mixed signal might lead to short-term uncertainty among investors, balancing the potential for both positive sentiment from the maintained Buy rating and cautious sentiment from the lowered price target.