Adagene (NASDAQ:ADAG) Given Buy Rating at HC Wainwright

Adagene (NASDAQ:ADAG)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report issued on Monday, MarketBeat.com reports. They presently have a $7.00 price objective on the stock. HC Wainwright‘s target price indicates a potential upside of 180.00% from the company’s current price.

Several other research firms also recently commented on ADAG. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adagene in a report on Thursday, October 15th. Guggenheim reiterated a “buy” rating and issued a $10.00 price objective on shares of Adagene in a report on Tuesday, July 14th. Finally, Chardan Capital started coverage on Adagene in a report on Thursday, September 10th. They issued a “buy” rating and a $9.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.25.

Adagene Price Performance

NASDAQ ADAG traded up $0.21 during trading hours on Monday, hitting $2.50. The company’s stock had a trading volume of 92,712 shares, compared to its average volume of 249,477. Adagene has a 12 month low of $1.30 and a 12 month high of $4.85. The company’s 50 day simple moving average is $3.29 and its two-hundred day simple moving average is $3.61.

Insider Buying and Selling

In other Adagene news, CEO Peter Luo acquired 20,290 shares of Adagene stock in a transaction that occurred on Wednesday, September 16th. The stock was bought at an average cost of $3.15 per share, for a total transaction of $63,913.50. Following the acquisition, the chief executive officer owned 88,535 shares of the company’s stock, valued at $278,885.25. This represents a 29.73% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders bought 47,535 shares of company stock valued at $162,258. 21.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Adagene stock. Renaissance Technologies LLC bought a new position in Adagene Inc. Sponsored ADR (NASDAQ:ADAG) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 34,533 shares of the company’s stock, valued at approximately $135,000. Renaissance Technologies LLC owned about 0.07% of Adagene as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 9.51% of the company’s stock.

About Adagene

Adagene Inc is a biotechnology company focused on discovering and developing novel antibody-based cancer immunotherapies. The company combines computational methods, antibody engineering and translational research to create medicines designed to address limitations associated with conventional immuno-oncology treatments.

Adagene’s technology platform includes NEObody, which is intended to identify antibodies with differentiated binding characteristics, and SAFEbody, a masking technology designed to conditionally activate antibodies in the tumor microenvironment.