Adagene (NASDAQ:ADAG – Get Free Report)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research report issued on Friday, Benzinga reports. They currently have a $5.00 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 63.35% from the stock’s previous close.
Adagene Stock Performance
Adagene stock opened at $3.06 on Friday. The business has a fifty day moving average of $2.63 and a two-hundred day moving average of $2.77. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.61 and a current ratio of 3.61. Adagene has a twelve month low of $1.10 and a twelve month high of $4.38.
Hedge Funds Weigh In On Adagene
An institutional investor recently raised its position in Adagene stock. Artal Group S.A. raised its holdings in shares of Adagene Inc. (NASDAQ:ADAG – Free Report) by 2.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,020,000 shares of the company’s stock after purchasing an additional 20,000 shares during the period. Artal Group S.A. owned 2.31% of Adagene worth $2,856,000 at the end of the most recent quarter. 9.51% of the stock is currently owned by hedge funds and other institutional investors.
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.
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