Analysts Set Adagene Inc. Sponsored ADR (NASDAQ:ADAG) PT at $8.67

Adagene Inc. Sponsored ADR (NASDAQ:ADAG) has received an average rating of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $8.6667.

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

Insider Transactions at Adagene

In other news, CEO Peter Luo bought 22,966 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were acquired at an average cost of $3.65 per share, with a total value of $83,825.90. Following the completion of the transaction, the chief executive officer owned 67,966 shares of the company’s stock, valued at approximately $248,075.90. This trade represents a 51.04% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders bought 45,535 shares of company stock valued at $156,258 over the last 90 days. Company insiders own 21.20% of the company’s stock.

Hedge Funds Weigh In On Adagene

A hedge fund recently bought a new position in Adagene stock. Renaissance Technologies LLC bought a new stake in shares of Adagene Inc. Sponsored ADR (NASDAQ:ADAG) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 34,533 shares of the company’s stock, valued at approximately $135,000. Renaissance Technologies LLC owned 0.07% of Adagene at the end of the most recent quarter. 9.51% of the stock is currently owned by institutional investors and hedge funds.

Adagene Price Performance

ADAG opened at $3.31 on Monday. The firm has a 50 day moving average price of $3.67 and a 200-day moving average price of $3.73. Adagene has a twelve month low of $1.30 and a twelve month high of $4.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.02 and a quick ratio of 3.07.

About Adagene

Adagene Inc is a clinical-stage biopharmaceutical company focused on discovering and developing antibody-based medicines for cancer and other serious diseases. The company combines computational antibody-design capabilities with laboratory-based discovery and development platforms to create differentiated therapeutic candidates.

Adagene’s technology portfolio includes its SAFEbody platform, which is designed to mask antibody binding sites until the medicines reach the tumor microenvironment, potentially improving tumor selectivity and reducing activity in healthy tissue.