Adagene Inc. (NASDAQ:ADAG – Get Free Report) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 13,700 shares, a decline of 38.6% from the March 15th total of 22,300 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average trading volume of 105,400 shares, the days-to-cover ratio is currently 0.1 days.
Adagene Stock Down 5.7 %
Shares of ADAG opened at $2.82 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.61 and a current ratio of 3.61. Adagene has a fifty-two week low of $1.10 and a fifty-two week high of $4.38. The firm has a 50 day moving average price of $3.06 and a 200-day moving average price of $2.31.
Institutional Investors Weigh In On Adagene
A number of hedge funds have recently made changes to their positions in ADAG. WuXi AppTec Co. Ltd. bought a new stake in shares of Adagene in the 4th quarter worth approximately $8,162,000. Renaissance Technologies LLC lifted its holdings in shares of Adagene by 339.6% in the 3rd quarter. Renaissance Technologies LLC now owns 95,800 shares of the company’s stock worth $123,000 after acquiring an additional 74,006 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Adagene during the 2nd quarter valued at $40,000. 9.51% of the stock is currently owned by institutional investors.
Adagene Company Profile
Adagene Inc, a clinical stage immunotherapy 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 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 I clinical trial for the treatment of advanced metastatic solid tumors.
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