Adagene Inc. (NASDAQ:ADAG) Sees Significant Increase in Short Interest

Adagene Inc. (NASDAQ:ADAG) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 79,600 shares, a growth of 21.9% from the December 15th total of 65,300 shares. Based on an average daily volume of 60,400 shares, the short-interest ratio is currently 1.3 days. Approximately 0.2% of the shares of the stock are sold short.

Institutional Trading of Adagene

An institutional investor recently raised its position in Adagene stock. Exome Asset Management LLC increased its position in shares of Adagene Inc. (NASDAQ:ADAG) by 74.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 262,625 shares of the company’s stock after purchasing an additional 111,749 shares during the period. Exome Asset Management LLC owned 0.59% of Adagene worth $583,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 9.51% of the company’s stock.

Adagene Stock Performance

Shares of ADAG stock opened at $1.84 on Friday. Adagene has a one year low of $1.74 and a one year high of $4.38. The company’s fifty day moving average price is $2.12 and its 200-day moving average price is $2.46.

Adagene Company Profile

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.