Adagene (NASDAQ:ADAG) Price Target Raised to $8.00 at HC Wainwright

Adagene (NASDAQ:ADAG) had its price objective hoisted by HC Wainwright from $5.00 to $8.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Adagene Trading Down 4.1 %

ADAG stock opened at $1.85 on Monday. The company has a fifty day moving average price of $2.05 and a 200 day moving average price of $2.40. Adagene has a 12 month low of $1.74 and a 12 month high of $4.29.

Institutional Investors Weigh In On Adagene

Hedge funds have recently made changes to their positions in the business. Catalina Capital Group LLC raised its stake in Adagene by 129.2% during the 4th quarter. Catalina Capital Group LLC now owns 29,198 shares of the company’s stock valued at $58,000 after acquiring an additional 16,461 shares during the last quarter. Exome Asset Management LLC increased its holdings in shares of Adagene by 74.1% in the third quarter. Exome Asset Management LLC now owns 262,625 shares of the company’s stock valued at $583,000 after purchasing an additional 111,749 shares during the period. Finally, Mill Creek Capital Advisors LLC purchased a new stake in shares of Adagene during the third quarter worth approximately $202,000. Institutional investors and hedge funds own 9.51% of the company’s stock.

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.