Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Stock Has Consensus Target Price of $8.67

Adagene Inc. Sponsored ADR (NASDAQ:ADAG) has earned an average rating of “Moderate Buy” from the five ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $8.67.

ADAG has been the topic of several research reports. Guggenheim restated a “buy” rating and issued a $10.00 target price on shares of Adagene in a research note on Tuesday, July 14th. Chardan Capital started coverage on Adagene in a research note on Thursday, September 10th. They set a “buy” rating and a $9.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Adagene in a research note on Monday, September 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Adagene in a report on Friday, July 17th.

Adagene Price Performance

Shares of NASDAQ ADAG opened at $2.76 on Friday. The stock has a fifty day simple moving average of $3.48 and a two-hundred day simple moving average of $3.68. Adagene has a 1-year low of $1.30 and a 1-year high of $4.85.

Insider Buying and Selling

In other Adagene news, CEO Peter Luo bought 20,290 shares of the business’s stock in a transaction on Wednesday, September 16th. The stock was purchased at an average price of $3.15 per share, for a total transaction of $63,913.50. Following the completion of the transaction, the chief executive officer directly owned 88,535 shares of the company’s stock, valued at $278,885.25. This trade represents a 29.73% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought 47,535 shares of company stock worth $162,258 over the last quarter. 21.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Adagene

A hedge fund recently bought a new stake in Adagene stock. Renaissance Technologies LLC purchased a new stake in shares of Adagene Inc. Sponsored ADR (NASDAQ:ADAG) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 34,533 shares of the company’s stock, valued at approximately $135,000. Renaissance Technologies LLC owned approximately 0.07% of Adagene at the end of the most recent quarter. Institutional investors own 9.51% of the company’s stock.

Adagene Company Profile

Adagene Inc is a biotechnology company focused on discovering and developing novel antibody-based cancer immunotherapies. The company combines computational methods, antibody engineering and translational research to create medicines designed to address limitations associated with conventional immuno-oncology treatments.

Adagene’s technology platform includes NEObody, which is intended to identify antibodies with differentiated binding characteristics, and SAFEbody, a masking technology designed to conditionally activate antibodies in the tumor microenvironment.