Adagene (NASDAQ:ADAG) Earns Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Adagene (NASDAQ:ADAG) in a research report sent to investors on Friday morning, Benzinga reports. HC Wainwright currently has a $5.00 price objective on the stock.

Adagene Trading Down 1.0 %

Shares of ADAG opened at $3.06 on Friday. Adagene has a 12-month low of $1.10 and a 12-month high of $4.38. The firm’s 50 day moving average is $2.63 and its 200-day moving average is $2.78. The company has a quick ratio of 3.61, a current ratio of 3.61 and a debt-to-equity ratio of 0.19.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Adagene stock. WuXi AppTec Co. Ltd. acquired a new stake in shares of Adagene Inc. (NASDAQ:ADAG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,225,696 shares of the company’s stock, valued at approximately $8,162,000. Adagene makes up about 21.2% of WuXi AppTec Co. Ltd.’s investment portfolio, making the stock its 3rd largest position. WuXi AppTec Co. Ltd. owned about 9.64% of Adagene at the end of the most recent reporting period. 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.