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

HC Wainwright reissued their buy rating on shares of Adagene (NASDAQ:ADAG) in a report published on Friday morning, Benzinga reports. HC Wainwright currently has a $5.00 target price on the stock.

Adagene Stock Down 0.8 %

Shares of ADAG stock opened at $3.06 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.61 and a quick ratio of 3.61. Adagene has a one year low of $1.10 and a one year high of $4.38. The company’s 50-day moving average is $2.63 and its 200 day moving average is $2.77.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Adagene stock. WuXi AppTec Co. Ltd. bought a new position in Adagene Inc. (NASDAQ:ADAG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 4,225,696 shares of the company’s stock, valued at approximately $8,162,000. Adagene comprises about 21.2% of WuXi AppTec Co. Ltd.’s holdings, making the stock its 3rd biggest position. WuXi AppTec Co. Ltd. owned 9.64% of Adagene at the end of the most recent quarter. Institutional investors own 9.51% of the company’s stock.

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.