Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts assign Adagene a “Moderate Buy” consensus rating based on five ratings: three buys, one strong buy, and one sell. The average 12-month price target is $8.67, compared with the stock’s recent $3.40 price.
• CEO Peter Luo purchased 22,966 shares at an average price of $3.65, increasing his holdings by 51.04%. Insiders own 21.20% of the company, while institutional investors own 9.51%.
• ADAG shares have traded between $1.30 and $4.85 over the past year, with 50-day and 200-day moving averages near $3.74. Adagene is a clinical-stage biotechnology company developing antibody-based cancer and immune-disease therapies.

Adagene Inc. Sponsored ADR (NASDAQ:ADAG - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the five brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $8.6667.

Several brokerages have recently issued reports on ADAG. Guggenheim reaffirmed a "buy" rating and issued a $10.00 target price on shares of Adagene in a report on Tuesday, July 14th. Chardan Capital initiated coverage on Adagene in a research note on Thursday. They set a "buy" rating and a $9.00 price target for the company. HC Wainwright restated a "buy" rating and set a $7.00 price target on shares of Adagene in a report on Monday. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Adagene in a research note on Friday, July 17th.

Insider Buying and Selling at Adagene

In other Adagene news, CEO Peter Luo bought 22,966 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was purchased at an average cost of $3.65 per share, with a total value of $83,825.90. Following the completion of the acquisition, the chief executive officer owned 67,966 shares in the company, valued at $248,075.90. This trade represents a 51.04% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired 25,245 shares of company stock valued at $92,344 over the last ninety days. Company insiders own 21.20% of the company's stock.

Hedge Funds Weigh In On Adagene

Several institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC bought a new stake in shares of Adagene in the 1st quarter worth about $135,000. Exome Asset Management LLC bought a new position in shares of Adagene in the 4th quarter valued at about $2,004,000. Citadel Advisors LLC bought a new position in shares of Adagene in the 3rd quarter valued at about $80,000. SmartHarvest Portfolios LLC purchased a new position in Adagene in the fourth quarter worth about $73,000. Finally, Marex Group plc purchased a new position in Adagene in the second quarter worth about $47,000. Institutional investors own 9.51% of the company's stock.

Adagene Stock Performance

Shares of ADAG stock opened at $3.40 on Monday. The company's fifty day simple moving average is $3.74 and its two-hundred day simple moving average is $3.73. Adagene has a 52 week low of $1.30 and a 52 week high of $4.85. The company has a current ratio of 5.02, a quick ratio of 3.07 and a debt-to-equity ratio of 0.01.

Adagene Company Profile

Adagene Inc, headquartered in Suzhou, China, is a clinical-stage biopharmaceutical company specializing in the discovery and development of antibody-based therapeutics for cancer and immune-related diseases. Founded in 2017, the company leverages its proprietary immunome technology platform to mine human antibody repertoires and engineer novel monospecific and bispecific antibodies. Adagene's pipeline includes multiple candidates in preclinical and early clinical development, with a focus on targeting tumor microenvironments and modulating immune checkpoints to enhance anti-tumor efficacy.

At the core of Adagene's research and development efforts is its Bihanc™ antibody platform, which combines combinatorial phage display, structure-based design and artificial intelligence to optimize binding affinity, specificity and developability.

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