HC Wainwright Forecasts Strong Price Appreciation for Adagene (NASDAQ:ADAG) Stock

Adagene (NASDAQ:ADAG) had its price objective upped by analysts at HC Wainwright from $5.00 to $8.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 310.26% from the stock’s current price.

Adagene Trading Up 3.4 %

NASDAQ ADAG opened at $1.95 on Monday. Adagene has a 52 week low of $1.74 and a 52 week high of $4.38. The company has a 50 day moving average price of $2.05 and a 200 day moving average price of $2.41.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Exome Asset Management LLC raised its position in shares of Adagene by 74.1% in the 3rd quarter. Exome Asset Management LLC now owns 262,625 shares of the company’s stock valued at $583,000 after purchasing an additional 111,749 shares during the last quarter. Mill Creek Capital Advisors LLC acquired a new stake in Adagene during the 3rd quarter worth about $202,000. Finally, Catalina Capital Group LLC grew its stake in Adagene by 129.2% during the 4th quarter. Catalina Capital Group LLC now owns 29,198 shares of the company’s stock valued at $58,000 after purchasing an additional 16,461 shares during the last quarter. 9.51% of the stock is owned by institutional investors and hedge funds.

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.