Adagene Inc. (NASDAQ:ADAG) Shares Acquired by Mill Creek Capital Advisors LLC

Mill Creek Capital Advisors LLC boosted its stake in Adagene Inc. (NASDAQ:ADAG) by 119.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,610 shares of the company’s stock after buying an additional 108,702 shares during the quarter. Mill Creek Capital Advisors LLC owned approximately 0.45% of Adagene worth $397,000 at the end of the most recent reporting period.

Separately, Exome Asset Management LLC raised its holdings in Adagene by 74.1% in the 3rd quarter. Exome Asset Management LLC now owns 262,625 shares of the company’s stock valued at $583,000 after acquiring an additional 111,749 shares during the last quarter. Institutional investors and hedge funds own 9.51% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on ADAG shares. Morgan Stanley cut Adagene from an “overweight” rating to an “equal weight” rating in a report on Friday, January 31st. HC Wainwright raised their price objective 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.

Adagene Price Performance

ADAG opened at $1.70 on Tuesday. The stock’s 50-day moving average price is $1.96 and its 200 day moving average price is $2.35. Adagene Inc. has a 12-month low of $1.68 and a 12-month high of $3.78.

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.