Adagene (NASDAQ:ADAG) Stock Keeps “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Adagene (NASDAQ:ADAG) in a report released on Monday, Marketbeat Ratings reports. HC Wainwright currently has a $7.00 price target on the stock.

A number of other research analysts have also recently commented on ADAG. Chardan Capital assumed coverage on shares of Adagene in a research report on Thursday, September 10th. They set a “buy” rating and a $9.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Adagene in a report on Thursday. Finally, Guggenheim restated a “buy” rating and issued a $10.00 price objective on shares of Adagene in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.25.

Adagene Stock Performance

NASDAQ:ADAG opened at $2.29 on Monday. The business has a 50 day moving average of $3.29 and a 200 day moving average of $3.61. Adagene has a 1-year low of $1.30 and a 1-year high of $4.85.

Insider Transactions at Adagene

In related news, CEO Peter Luo acquired 20,290 shares of Adagene stock in a transaction dated Wednesday, September 16th. The shares were purchased at an average cost of $3.15 per share, with a total value of $63,913.50. Following the completion of the purchase, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought 47,535 shares of company stock worth $162,258 in the last ninety days. Corporate insiders own 21.20% of the company’s stock.

Institutional Inflows and Outflows

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

Adagene Company Profile

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.