Adagene (NASDAQ:ADAG) Shares Up 3.4%

Adagene Inc. (NASDAQ:ADAG) traded up 3.4% on Thursday . The company traded as high as $2.56 and last traded at $2.41. 11,252 shares traded hands during trading, a decline of 87% from the average session volume of 85,385 shares. The stock had previously closed at $2.33.

Adagene Stock Performance

The business’s 50-day moving average price is $2.78 and its two-hundred day moving average price is $2.43. The company has a current ratio of 3.61, a quick ratio of 3.61 and a debt-to-equity ratio of 0.19.

Hedge Funds Weigh In On Adagene

A hedge fund recently bought a new stake in Adagene stock. WuXi AppTec Co. Ltd. acquired a new stake in Adagene Inc. (NASDAQ:ADAG) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 4,225,696 shares of the company’s stock, valued at approximately $8,162,000. Adagene makes up about 21.2% of WuXi AppTec Co. Ltd.’s portfolio, making the stock its 3rd biggest holding. WuXi AppTec Co. Ltd. owned 9.64% of Adagene as of its most recent SEC filing. 9.51% of the stock is currently owned by hedge funds and other institutional investors.

About Adagene

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.