Adagene Inc. Sponsored ADR (ADAG) – What Are Researchers Thinking About This Stock?

Shares of Adagene Inc. Sponsored ADR (NASDAQ:ADAG) have been assigned a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $8.25.

ADAG has been the subject of a number of analyst reports. Stifel Nicolaus set a $7.00 price objective on shares of Adagene in a report on Monday, October 19th. Wall Street Zen downgraded Adagene from a “hold” rating to a “sell” rating in a research note on Saturday. Chardan Capital reiterated a “buy” rating and set a $9.00 price objective on shares of Adagene in a report on Wednesday, October 28th. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Adagene in a report on Monday, October 19th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Adagene in a research report on Thursday, October 15th.

Adagene Price Performance

NASDAQ:ADAG opened at $2.00 on Tuesday. Adagene has a 1-year low of $1.30 and a 1-year high of $4.85. The business’s 50-day moving average price is $2.88 and its two-hundred day moving average price is $3.41.

Insider Activity

In other news, CEO Peter Luo purchased 20,290 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were bought at an average cost of $3.15 per share, for a total transaction of $63,913.50. Following the completion of the acquisition, the chief executive officer directly owned 88,535 shares in the company, valued at approximately $278,885.25. This trade represents a 29.73% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders bought 24,290 shares of company stock valued at $77,414. Company insiders own 21.20% of the company’s stock.

Institutional Trading of Adagene

A hedge fund recently bought a new position in Adagene stock. Renaissance Technologies LLC bought a new stake in Adagene Inc. Sponsored ADR (NASDAQ:ADAG) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 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 and hedge funds own 9.51% of the company’s stock.

About Adagene

Adagene Inc is a clinical-stage biopharmaceutical company focused on developing antibody-based cancer immunotherapies. The company uses computational technologies and antibody-engineering capabilities to discover and develop therapies designed to activate the immune system against tumors while limiting activity in healthy tissues.

Adagene’s proprietary SAFEbody technology is designed to conditionally mask antibody binding sites so that therapies are preferentially activated in the tumor microenvironment.