Adagene (NASDAQ:ADAG) Earns “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Adagene (NASDAQ:ADAG) in a research report sent to investors on Monday, Benzinga reports. HC Wainwright currently has a $5.00 target price on the stock.

Adagene Stock Performance

Shares of NASDAQ:ADAG opened at $2.74 on Monday. The company has a current ratio of 3.61, a quick ratio of 3.61 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average of $2.76 and a 200-day moving average of $2.89. Adagene has a one year low of $1.10 and a one year high of $4.38.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Catalina Capital Group LLC acquired a new stake in shares of Adagene during the second quarter valued at approximately $51,000. Artal Group S.A. raised its stake in Adagene by 2.0% during the 1st quarter. Artal Group S.A. now owns 1,020,000 shares of the company’s stock valued at $2,856,000 after purchasing an additional 20,000 shares during the period. Finally, WuXi AppTec Co. Ltd. purchased a new stake in shares of Adagene in the fourth quarter valued at $8,162,000. 9.51% of the stock is currently owned by institutional investors and hedge funds.

Adagene Company Profile

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.