Adagene Inc. (NASDAQ:ADAG – Get Free Report) was the recipient of a large decrease in short interest in February. As of February 28th, there was short interest totalling 17,700 shares, a decrease of 55.9% from the February 13th total of 40,100 shares. Based on an average daily volume of 82,400 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the shares of the company are short sold.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on ADAG. HC Wainwright increased their target price on shares of Adagene from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Morgan Stanley lowered shares of Adagene from an “overweight” rating to an “equal weight” rating in a research report on Friday, January 31st.
Check Out Our Latest Report on Adagene
Hedge Funds Weigh In On Adagene
Adagene Price Performance
Shares of NASDAQ:ADAG opened at $1.77 on Friday. The firm has a 50 day simple moving average of $1.90 and a 200 day simple moving average of $2.25. Adagene has a one year low of $1.64 and a one year high of $3.58.
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.
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