Adagene Inc. (NASDAQ:ADAG) Short Interest Update

Adagene Inc. (NASDAQ:ADAG) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 79,600 shares, an increase of 21.9% from the December 15th total of 65,300 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 60,400 shares, the days-to-cover ratio is presently 1.3 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Adagene stock. Exome Asset Management LLC increased its position in Adagene Inc. (NASDAQ:ADAG) by 74.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 262,625 shares of the company’s stock after acquiring an additional 111,749 shares during the period. Exome Asset Management LLC owned about 0.59% of Adagene worth $583,000 at the end of the most recent reporting period. Institutional investors own 9.51% of the company’s stock.

Adagene Stock Performance

Shares of Adagene stock opened at $1.85 on Friday. Adagene has a 1 year low of $1.74 and a 1 year high of $4.38. The firm’s 50-day moving average is $2.14 and its 200 day moving average is $2.46.

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.