Adagene Inc. (NASDAQ:ADAG) Short Interest Update

Adagene Inc. (NASDAQ:ADAG) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 12,300 shares, a decline of 42.5% from the October 15th total of 21,400 shares. Based on an average daily trading volume, of 88,800 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the shares of the stock are short sold.

Adagene Stock Down 2.1 %

NASDAQ:ADAG opened at $2.32 on Friday. The business has a 50 day simple moving average of $2.60 and a 200-day simple moving average of $2.63. Adagene has a 1 year low of $1.33 and a 1 year high of $4.38.

Analyst Upgrades and Downgrades

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

Institutional Trading of Adagene

Institutional investors have recently bought and sold shares of the stock. Artal Group S.A. increased its position in Adagene by 2.0% during the first quarter. Artal Group S.A. now owns 1,020,000 shares of the company’s stock valued at $2,856,000 after acquiring an additional 20,000 shares during the last quarter. Catalina Capital Group LLC purchased a new position in shares of Adagene during the 2nd quarter worth about $51,000. Finally, Mill Creek Capital Advisors LLC bought a new position in Adagene during the 3rd quarter valued at about $202,000. 9.51% of the stock is currently owned by institutional investors.

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.