Adagene Inc. Sponsored ADR (NASDAQ:ADAG - Get Free Report)'s stock price shot up 3.8% during trading on Tuesday . The company traded as high as $1.92 and last traded at $1.90. 906,995 shares were traded during mid-day trading, an increase of 1,242% from the average session volume of 67,606 shares. The stock had previously closed at $1.83.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright restated a "buy" rating and issued a $8.00 target price on shares of Adagene in a research report on Thursday, April 3rd.
Check Out Our Latest Research Report on Adagene
Adagene Trading Down 5.3%
The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.01. The business's 50 day simple moving average is $1.87 and its 200-day simple moving average is $1.80.
Institutional Trading of Adagene
Hedge funds and other institutional investors have recently modified their holdings of the stock. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Adagene in the 1st quarter valued at approximately $29,000. Fifth Lane Capital LP bought a new position in shares of Adagene in the fourth quarter valued at $54,000. Finally, Kamunting Street Capital Management L.P. bought a new position in shares of Adagene during the fourth quarter valued at about $251,000. Institutional investors own 9.51% of the company's stock.
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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