Adagene (NASDAQ:ADAG) Given Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Adagene (NASDAQ:ADAG) in a research note released on Friday morning, Benzinga reports. The brokerage currently has a $5.00 price objective on the stock.

Adagene Stock Down 0.8 %

Shares of NASDAQ:ADAG opened at $3.06 on Friday. 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 current ratio of 3.61 and a quick ratio of 3.61. The business’s 50-day moving average is $2.63 and its 200-day moving average is $2.77.

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 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,225,696 shares of the company’s stock, valued at approximately $8,162,000. Adagene accounts for 21.2% of WuXi AppTec Co. Ltd.’s investment portfolio, making the stock its 3rd largest holding. WuXi AppTec Co. Ltd. owned approximately 9.64% of Adagene as of its most recent filing with the Securities and Exchange Commission (SEC). 9.51% of the stock is currently owned by hedge funds and other institutional investors.

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.