Adagene Inc. (NASDAQ:ADAG - Get Free Report) fell 2.1% during trading on Thursday . The company traded as low as $1.59 and last traded at $1.63. 20,013 shares traded hands during trading, a decline of 64% from the average session volume of 56,282 shares. The stock had previously closed at $1.66.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on ADAG. Morgan Stanley lowered shares of Adagene from an "overweight" rating to an "equal weight" rating in a report on Friday, January 31st. HC Wainwright reaffirmed a "buy" rating and issued a $8.00 price objective on shares of Adagene in a report on Thursday, April 3rd.
Check Out Our Latest Report on ADAG
Adagene Stock Down 2.9%
The company has a 50 day moving average of $1.60 and a two-hundred day moving average of $1.86.
Institutional Trading of Adagene
Several institutional investors have recently bought and sold shares of the business. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Adagene during the 1st quarter worth approximately $29,000. Fifth Lane Capital LP acquired a new position in Adagene during the fourth quarter worth $54,000. Catalina Capital Group LLC lifted its holdings in Adagene by 129.2% during the fourth quarter. Catalina Capital Group LLC now owns 29,198 shares of the company's stock valued at $58,000 after purchasing an additional 16,461 shares in the last quarter. Kamunting Street Capital Management L.P. acquired a new stake in shares of Adagene in the fourth quarter valued at about $251,000. Finally, Mill Creek Capital Advisors LLC grew its position in shares of Adagene by 119.6% in the fourth quarter. Mill Creek Capital Advisors LLC now owns 199,610 shares of the company's stock valued at $397,000 after purchasing an additional 108,702 shares during the period. 9.51% of the stock is owned by institutional investors and hedge funds.
Adagene Company Profile
(
Get Free Report)
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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