Adagene Inc. (NASDAQ:ADAG) Short Interest Update

Adagene Inc. (NASDAQ:ADAG) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 13,500 shares, a growth of 400.0% from the May 31st total of 2,700 shares. Based on an average daily trading volume, of 32,700 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.0% of the shares of the company are short sold.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Adagene stock. Artal Group S.A. grew its position in Adagene Inc. (NASDAQ:ADAG) by 2.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,020,000 shares of the company’s stock after acquiring an additional 20,000 shares during the period. Artal Group S.A. owned about 2.31% of Adagene worth $2,856,000 at the end of the most recent quarter. 9.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and set a $5.00 price objective on shares of Adagene in a report on Friday.

Adagene Price Performance

NASDAQ ADAG opened at $3.06 on Friday. The company has a fifty day moving average of $2.63 and a 200 day moving average of $2.77. Adagene has a 1 year low of $1.10 and a 1 year high of $4.38. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.61 and a current ratio of 3.61.

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.