Adagene Inc. (NASDAQ:ADAG) Sees Large Increase in Short Interest

Adagene Inc. (NASDAQ:ADAG) was the target of a large increase in short interest in June. As of June 15th, there was short interest totalling 13,500 shares, an increase of 400.0% from the May 31st total of 2,700 shares. Based on an average daily trading volume, of 32,700 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.0% of the company’s stock are short sold.

Adagene Trading Down 0.7 %

Shares of ADAG stock traded down $0.02 during trading hours on Thursday, reaching $2.98. 28,621 shares of the company’s stock were exchanged, compared to its average volume of 72,973. The business has a fifty day moving average price of $2.62 and a 200-day moving average price of $2.76. The company has a quick ratio of 3.61, a current ratio of 3.61 and a debt-to-equity ratio of 0.19. Adagene has a fifty-two week low of $1.10 and a fifty-two week high of $4.38.

Institutional Investors Weigh In On Adagene

An institutional investor recently raised its position in Adagene stock. Artal Group S.A. raised its position in shares of Adagene Inc. (NASDAQ:ADAG) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,020,000 shares of the company’s stock after buying an additional 20,000 shares during the period. Artal Group S.A. owned about 2.31% of Adagene worth $2,856,000 as of its most recent filing with the Securities and Exchange Commission. 9.51% of the stock is owned by institutional investors.

About Adagene

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.