Short Interest in Adagene Inc. (NASDAQ:ADAG) Expands By 2,213.3%

Adagene Inc. (NASDAQ:ADAG) was the target of a significant growth in short interest in November. As of November 30th, there was short interest totalling 34,700 shares, a growth of 2,213.3% from the November 15th total of 1,500 shares. Based on an average daily volume of 72,300 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.1% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of Adagene in a report on Wednesday, September 18th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Adagene stock. Catalina Capital Group LLC purchased a new position in Adagene Inc. (NASDAQ:ADAG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,752 shares of the company’s stock, valued at approximately $51,000. Institutional investors own 9.51% of the company’s stock.

Adagene Stock Down 0.5 %

NASDAQ ADAG opened at $2.11 on Friday. Adagene has a 12-month low of $1.35 and a 12-month high of $4.38. The firm’s fifty day simple moving average is $2.47 and its two-hundred day simple moving average is $2.60.

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.