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

Adagene (NASDAQ:ADAG) had its price objective increased by HC Wainwright from $5.00 to $8.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Adagene’s FY2024 earnings at ($0.64) EPS, FY2025 earnings at ($0.74) EPS, FY2026 earnings at ($0.77) EPS, FY2027 earnings at ($1.33) EPS, FY2028 earnings at ($1.26) EPS and FY2029 earnings at ($0.56) EPS.

Adagene Trading Down 1.1 %

NASDAQ ADAG opened at $1.85 on Monday. The company’s fifty day moving average price is $2.03 and its two-hundred day moving average price is $2.39. Adagene has a 12 month low of $1.74 and a 12 month high of $3.89.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ADAG. Mill Creek Capital Advisors LLC acquired a new position in shares of Adagene in the 3rd quarter valued at about $202,000. Exome Asset Management LLC lifted its holdings in Adagene by 74.1% in the third quarter. Exome Asset Management LLC now owns 262,625 shares of the company’s stock worth $583,000 after acquiring an additional 111,749 shares during the last quarter. Finally, Catalina Capital Group LLC lifted its holdings in Adagene by 129.2% in the fourth quarter. Catalina Capital Group LLC now owns 29,198 shares of the company’s stock worth $58,000 after acquiring an additional 16,461 shares during the last quarter. Institutional investors and hedge funds own 9.51% of the company’s stock.

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.