Adagene Inc. (NASDAQ:ADAG) Short Interest Down 87.8% in November

Adagene Inc. (NASDAQ:ADAG) was the target of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 1,500 shares, a decline of 87.8% from the October 31st total of 12,300 shares. Based on an average daily volume of 62,600 shares, the short-interest ratio is currently 0.0 days.

Analyst Upgrades and Downgrades

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

Adagene Price Performance

ADAG opened at $2.31 on Thursday. The business has a 50 day moving average of $2.48 and a 200-day moving average of $2.63. Adagene has a 1-year low of $1.35 and a 1-year high of $4.38.

Institutional Trading of Adagene

A number of hedge funds have recently bought and sold shares of the stock. Catalina Capital Group LLC bought a new position in shares of Adagene during the 2nd quarter worth about $51,000. Mill Creek Capital Advisors LLC acquired a new stake in Adagene during the third quarter worth about $202,000. Finally, Artal Group S.A. grew its position in Adagene by 2.0% during the first quarter. Artal Group S.A. now owns 1,020,000 shares of the company’s stock worth $2,856,000 after buying an additional 20,000 shares in the last quarter. 9.51% of the stock is owned by 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.