Adagene Inc. Sponsored ADR (NASDAQ:ADAG – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the five brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $8.6667.
A number of brokerages have recently issued reports on ADAG. Guggenheim reiterated a “buy” rating and issued a $10.00 price target on shares of Adagene in a report on Tuesday, July 14th. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Adagene in a research note on Monday. Chardan Capital started coverage on shares of Adagene in a report on Thursday. They issued a “buy” rating and a $9.00 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Adagene in a report on Friday, July 17th.
Insider Activity at Adagene
Hedge Funds Weigh In On Adagene
Several hedge funds have recently made changes to their positions in ADAG. Marex Group plc acquired a new stake in Adagene during the 2nd quarter valued at approximately $47,000. SmartHarvest Portfolios LLC purchased a new stake in Adagene in the 4th quarter worth $73,000. Citadel Advisors LLC purchased a new stake in shares of Adagene during the third quarter worth about $80,000. Renaissance Technologies LLC purchased a new position in shares of Adagene in the first quarter valued at approximately $135,000. Finally, Fifth Lane Capital LP grew its holdings in shares of Adagene by 427.3% during the fourth quarter. Fifth Lane Capital LP now owns 145,000 shares of the company’s stock worth $274,000 after buying an additional 117,500 shares in the last quarter. 9.51% of the stock is owned by institutional investors and hedge funds.
Adagene Stock Performance
Shares of NASDAQ:ADAG opened at $3.40 on Monday. The firm has a 50 day moving average of $3.74 and a 200 day moving average of $3.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.02 and a quick ratio of 3.07. Adagene has a 52 week low of $1.30 and a 52 week high of $4.85.
About Adagene
Adagene Inc, headquartered in Suzhou, China, is a clinical-stage biopharmaceutical company specializing in the discovery and development of antibody-based therapeutics for cancer and immune-related diseases. Founded in 2017, the company leverages its proprietary immunome technology platform to mine human antibody repertoires and engineer novel monospecific and bispecific antibodies. Adagene’s pipeline includes multiple candidates in preclinical and early clinical development, with a focus on targeting tumor microenvironments and modulating immune checkpoints to enhance anti-tumor efficacy.
At the core of Adagene’s research and development efforts is its Bihanc™ antibody platform, which combines combinatorial phage display, structure-based design and artificial intelligence to optimize binding affinity, specificity and developability.
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