Adagene Inc. Sponsored ADR (NASDAQ:ADAG - Get Free Report) shot up 0.3% on Monday . The stock traded as high as $1.94 and last traded at $1.91. 6,981 shares traded hands during trading, a decline of 89% from the average session volume of 60,826 shares. The stock had previously closed at $1.90.
Analyst Upgrades and Downgrades
Separately, HC Wainwright reaffirmed a "buy" rating and set a $8.00 price target on shares of Adagene in a research report on Thursday, April 3rd.
Read Our Latest Analysis on Adagene
Adagene Stock Performance
The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.30 and a current ratio of 2.30. The firm's 50 day simple moving average is $1.76 and its 200-day simple moving average is $1.82.
Hedge Funds Weigh In On Adagene
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. General Atlantic L.P. grew its stake in Adagene by 1,349.2% during the fourth quarter. General Atlantic L.P. now owns 3,825,952 shares of the company's stock worth $7,614,000 after buying an additional 3,561,952 shares during the last quarter. Kamunting Street Capital Management L.P. bought a new stake in Adagene during the 4th quarter worth about $251,000. Fifth Lane Capital LP bought a new position in shares of Adagene in the 4th quarter valued at about $54,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new position in Adagene in the first quarter valued at approximately $29,000. 9.51% of the stock is owned by institutional investors.
About Adagene
(
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Adagene Inc, a clinical stage biotechnology company, engages in the research, development, and production of monoclonal antibody drugs for cancers. The company's product candidates include ADG106, a human ligand-blocking agonistic anti- CD137 IgG4 monoclonal antibodies (mAbs) that is in Phase 1b/2 clinical trials for the treatment advanced solid tumors and non-Hodgkin's lymphoma; ADG126, a masked fully-human anti-CTLA-4 mAb that is in Phase 1 clinical trial for the treatment advanced/metastatic solid tumors; and ADG116, a human ligand-blocking anti-CTLA-4 mAb, which is in Phase 1b/2 clinical development for the treatment of advanced/metastatic solid tumors.
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