Adagene Inc. (NASDAQ:ADAG) Short Interest Update

Adagene Inc. (NASDAQ:ADAG) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 65,300 shares, an increase of 88.2% from the November 30th total of 34,700 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 60,200 shares, the days-to-cover ratio is presently 1.1 days.

Adagene Price Performance

Adagene stock opened at $1.96 on Friday. Adagene has a 1-year low of $1.60 and a 1-year high of $4.38. The company’s 50-day moving average is $2.41 and its 200 day moving average is $2.55.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Adagene

An institutional investor recently raised its position in Adagene stock. Exome Asset Management LLC grew its holdings in Adagene Inc. (NASDAQ:ADAG) by 74.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 262,625 shares of the company’s stock after purchasing an additional 111,749 shares during the period. Exome Asset Management LLC owned about 0.59% of Adagene worth $583,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 9.51% of the company’s stock.

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.