Adagene (NASDAQ:ADAG – Get Free Report) had its price objective increased by equities research analysts at HC Wainwright from $5.00 to $8.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 327.81% from the stock’s current price. HC Wainwright also issued estimates for Adagene’s FY2029 earnings at ($0.56) EPS.
Adagene Stock Up 1.1 %
Shares of NASDAQ:ADAG opened at $1.87 on Monday. Adagene has a 1 year low of $1.74 and a 1 year high of $4.29. The stock’s fifty day moving average price is $2.04 and its 200-day moving average price is $2.40.
Hedge Funds Weigh In On Adagene
Institutional investors and hedge funds have recently modified their holdings of the company. Catalina Capital Group LLC raised its stake in shares of Adagene by 129.2% in the fourth quarter. Catalina Capital Group LLC now owns 29,198 shares of the company’s stock worth $58,000 after buying an additional 16,461 shares during the period. Mill Creek Capital Advisors LLC bought a new position in shares of Adagene during the 3rd quarter valued at approximately $202,000. Finally, Exome Asset Management LLC increased its holdings in Adagene by 74.1% in the 3rd quarter. Exome Asset Management LLC now owns 262,625 shares of the company’s stock worth $583,000 after acquiring an additional 111,749 shares in the last quarter. 9.51% of the stock is currently owned by hedge funds and other institutional investors.
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.
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