Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Short Interest Down 31.1% in January

Adagene Inc. Sponsored ADR (NASDAQ:ADAG) was the recipient of a large decrease in short interest in the month of January. As of January 15th, there was short interest totaling 16,394 shares, a decrease of 31.1% from the December 31st total of 23,778 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 53,969 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily trading volume, of 53,969 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.0% of the shares of the company are short sold.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Guggenheim began coverage on Adagene in a research note on Monday, November 24th. They issued a “buy” rating and a $9.00 price objective for the company. Lifesci Capital upgraded Adagene to a “strong-buy” rating in a research report on Friday, November 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adagene in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $7.67.

Institutional Trading of Adagene

Large investors have recently modified their holdings of the company. Citadel Advisors LLC bought a new position in shares of Adagene during the third quarter valued at approximately $80,000. Gordian Capital Singapore Pte Ltd boosted its position in Adagene by 101.4% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 48,342 shares of the company’s stock valued at $96,000 after acquiring an additional 24,342 shares in the last quarter. Finally, Marex Group plc purchased a new position in shares of Adagene in the 2nd quarter valued at $47,000. Hedge funds and other institutional investors own 9.51% of the company’s stock.

Adagene Stock Performance

Shares of ADAG stock opened at $2.75 on Friday. Adagene has a 1 year low of $1.30 and a 1 year high of $3.16. The stock’s 50 day simple moving average is $1.95 and its two-hundred day simple moving average is $1.96.

Adagene Company Profile

Adagene Inc, headquartered in Suzhou, China, is a clinical-stage biopharmaceutical company specializing in the discovery and development of antibody-based therapeutics for cancer and immune-related diseases. Founded in 2017, the company leverages its proprietary immunome technology platform to mine human antibody repertoires and engineer novel monospecific and bispecific antibodies. Adagene’s pipeline includes multiple candidates in preclinical and early clinical development, with a focus on targeting tumor microenvironments and modulating immune checkpoints to enhance anti-tumor efficacy.

At the core of Adagene’s research and development efforts is its Bihanc™ antibody platform, which combines combinatorial phage display, structure-based design and artificial intelligence to optimize binding affinity, specificity and developability.