Adagene Inc. (NASDAQ:ADAG – Get Free Report) saw a significant growth in short interest during 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 trading volume of 73,400 shares, the short-interest ratio is presently 0.4 days. Currently, 0.1% of the company’s stock are sold short.
Institutional Investors Weigh In On Adagene
A hedge fund recently bought a new stake in Adagene stock. Catalina Capital Group LLC bought a new position in Adagene Inc. (NASDAQ:ADAG – Free Report) in the second quarter, according to its most recent filing with the SEC. The firm bought 16,752 shares of the company’s stock, valued at approximately $51,000. 9.51% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Separately, HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of Adagene in a report on Wednesday, September 18th.
Adagene Stock Up 1.4 %
Shares of ADAG stock opened at $2.16 on Friday. The stock’s fifty day moving average price is $2.56 and its 200 day moving average price is $2.63. Adagene has a 1-year low of $1.30 and a 1-year high of $4.38. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.61 and a current ratio of 2.50.
About Adagene
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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