Adagene Inc. (NASDAQ:ADAG) Short Interest Update

Adagene Inc. (NASDAQ:ADAG) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 30,900 shares, a growth of 153.3% from the September 15th total of 12,200 shares. Based on an average daily trading volume, of 73,400 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Adagene in a research note on Wednesday, September 18th.

Hedge Funds Weigh In On Adagene

An institutional investor recently bought a new position in Adagene stock. Catalina Capital Group LLC acquired a new stake in Adagene Inc. (NASDAQ:ADAG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 16,752 shares of the company’s stock, valued at approximately $51,000. Institutional investors own 9.51% of the company’s stock.

Adagene Stock Down 1.9 %

NASDAQ ADAG opened at $2.12 on Friday. Adagene has a 1-year low of $1.30 and a 1-year high of $4.38. The business has a 50 day moving average price of $2.55 and a 200 day moving average price of $2.63.

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.