Adagene (NASDAQ:ADAG) Raised to Hold at Wall Street Zen

Adagene (NASDAQ:ADAG) was upgraded by Wall Street Zen to a “hold” rating in a research report issued on Saturday.

Other equities research analysts have also recently issued research reports about the company. Guggenheim initiated coverage on Adagene in a report on Monday, November 24th. They set a “buy” rating and a $9.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adagene in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Adagene has a consensus rating of “Buy” and a consensus target price of $7.67.

Adagene Trading Down 1.6%

Shares of ADAG opened at $3.63 on Friday. Adagene has a 52 week low of $1.30 and a 52 week high of $4.58. The firm’s 50-day simple moving average is $2.88 and its 200 day simple moving average is $2.25.

Institutional Trading of Adagene

A number of institutional investors have recently bought and sold shares of ADAG. Marex Group plc acquired a new position in shares of Adagene during the 2nd quarter worth approximately $47,000. SmartHarvest Portfolios LLC acquired a new stake in shares of Adagene in the fourth quarter valued at approximately $73,000. Citadel Advisors LLC acquired a new stake in Adagene during the third quarter worth approximately $80,000. Gordian Capital Singapore Pte Ltd grew its position in Adagene by 101.4% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 48,342 shares of the company’s stock worth $96,000 after buying an additional 24,342 shares in the last quarter. Finally, Fifth Lane Capital LP increased its stake in Adagene by 427.3% during the 4th quarter. Fifth Lane Capital LP now owns 145,000 shares of the company’s stock worth $274,000 after acquiring an additional 117,500 shares during the period. Institutional investors own 9.51% of the company’s stock.

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.