Adagene Inc. (NASDAQ:ADAG) Short Interest Down 13.9% in January

Adagene Inc. (NASDAQ:ADAGGet Free Report) was the recipient of a large decrease in short interest in January. As of January 15th, there was short interest totalling 21,700 shares, a decrease of 13.9% from the December 31st total of 25,200 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 85,400 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of Adagene

An institutional investor recently bought a new position in Adagene stock. Virtu Financial LLC acquired a new stake in shares of Adagene Inc. (NASDAQ:ADAGFree Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 19,676 shares of the company’s stock, valued at approximately $40,000. 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 target price on shares of Adagene in a research report on Wednesday, October 4th.

Read Our Latest Report on Adagene

Adagene Price Performance

ADAG opened at $3.35 on Wednesday. The firm has a 50 day moving average price of $2.27 and a 200 day moving average price of $1.68. Adagene has a 1 year low of $1.10 and a 1 year high of $4.38.

Adagene Company Profile

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Adagene Inc, a clinical stage immunotherapy 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 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 I clinical trial for the treatment of advanced metastatic solid tumors.

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