Adagene (NASDAQ:ADAG) Stock Price Expected to Rise, HC Wainwright Analyst Says

Adagene (NASDAQ:ADAG) had its target price increased by equities research analysts at HC Wainwright from $5.00 to $8.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 327.81% from the company’s current price. HC Wainwright also issued estimates for Adagene’s FY2029 earnings at ($0.56) EPS.

Adagene Stock Up 1.1 %

NASDAQ:ADAG opened at $1.87 on Monday. The company has a 50-day moving average price of $2.04 and a 200-day moving average price of $2.40. Adagene has a 12 month low of $1.74 and a 12 month high of $4.29.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Catalina Capital Group LLC lifted its position in Adagene by 129.2% during the 4th quarter. Catalina Capital Group LLC now owns 29,198 shares of the company’s stock valued at $58,000 after acquiring an additional 16,461 shares during the period. Exome Asset Management LLC lifted its holdings in shares of Adagene by 74.1% during the third quarter. Exome Asset Management LLC now owns 262,625 shares of the company’s stock valued at $583,000 after purchasing an additional 111,749 shares during the last quarter. Finally, Mill Creek Capital Advisors LLC bought a new stake in shares of Adagene in the 3rd quarter worth approximately $202,000. Hedge funds and other institutional investors own 9.51% of the company’s stock.

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.