Adagene Inc. (NASDAQ:ADAG) Short Interest Update

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

Analyst Upgrades and Downgrades

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

Institutional Trading of Adagene

Hedge funds have recently modified their holdings of the business. Artal Group S.A. grew its stake in Adagene by 2.0% during the 1st quarter. Artal Group S.A. now owns 1,020,000 shares of the company’s stock valued at $2,856,000 after acquiring an additional 20,000 shares in the last quarter. Mill Creek Capital Advisors LLC acquired a new stake in shares of Adagene during the third quarter worth approximately $202,000. Finally, Catalina Capital Group LLC acquired a new stake in shares of Adagene during the second quarter worth approximately $51,000. Hedge funds and other institutional investors own 9.51% of the company’s stock.

Adagene Price Performance

Shares of NASDAQ ADAG traded up $0.09 during trading on Wednesday, hitting $2.31. The company had a trading volume of 31,895 shares, compared to its average volume of 68,127. Adagene has a 52 week low of $1.35 and a 52 week high of $4.38. The business’s 50-day moving average is $2.48 and its 200 day moving average is $2.63.

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.