Adagene (NASDAQ:ADAG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Adagene (NASDAQ:ADAG) to a hold rating in a report released on Saturday.

ADAG has been the subject of a number of other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Adagene in a research note on Wednesday, January 21st. Guggenheim began coverage on Adagene in a report on Monday, November 24th. They set a “buy” rating and a $9.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $7.67.

Adagene Stock Up 8.0%

Adagene stock opened at $3.92 on Friday. Adagene has a 1-year low of $1.30 and a 1-year high of $4.58. The company has a fifty day simple moving average of $2.93 and a 200 day simple moving average of $2.26.

Hedge Funds Weigh In On Adagene

Hedge funds and other institutional investors have recently bought and sold shares of the business. Marex Group plc bought a new stake in Adagene in the second quarter valued at approximately $47,000. Gordian Capital Singapore Pte Ltd boosted its stake in shares of Adagene by 101.4% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 48,342 shares of the company’s stock worth $96,000 after acquiring an additional 24,342 shares during the period. SmartHarvest Portfolios LLC acquired a new position in shares of Adagene during the 4th quarter worth approximately $73,000. Citadel Advisors LLC bought a new stake in Adagene in the 3rd quarter valued at $80,000. Finally, Fifth Lane Capital LP raised its stake in Adagene by 427.3% in the 4th quarter. Fifth Lane Capital LP now owns 145,000 shares of the company’s stock valued at $274,000 after acquiring an additional 117,500 shares during the period. Institutional investors own 9.51% of the company’s stock.

Adagene Company Profile

Adagene Inc, headquartered in Suzhou, China, is a clinical-stage biopharmaceutical company specializing in the discovery and development of antibody-based therapeutics for cancer and immune-related diseases. Founded in 2017, the company leverages its proprietary immunome technology platform to mine human antibody repertoires and engineer novel monospecific and bispecific antibodies. Adagene’s pipeline includes multiple candidates in preclinical and early clinical development, with a focus on targeting tumor microenvironments and modulating immune checkpoints to enhance anti-tumor efficacy.

At the core of Adagene’s research and development efforts is its Bihanc™ antibody platform, which combines combinatorial phage display, structure-based design and artificial intelligence to optimize binding affinity, specificity and developability.