Adagene (NASDAQ:ADAG) Receives Buy Rating from HC Wainwright

Adagene (NASDAQ:ADAG)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research report issued on Wednesday, Benzinga reports. They presently have a $5.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 81.82% from the company’s current price.

Adagene Price Performance

Shares of NASDAQ ADAG traded up $0.42 during trading hours on Wednesday, hitting $2.75. 14,223 shares of the stock were exchanged, compared to its average volume of 71,585. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.50 and a quick ratio of 3.61. The company’s 50 day moving average is $2.68 and its 200 day moving average is $2.70. Adagene has a one year low of $1.21 and a one year high of $4.38.

Institutional Trading of Adagene

An institutional investor recently bought a new position in Adagene stock. Catalina Capital Group LLC bought a new stake in shares of Adagene Inc. (NASDAQ:ADAG) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 16,752 shares of the company’s stock, valued at approximately $51,000. Institutional investors and hedge funds own 9.51% of the company’s stock.

About Adagene

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.