Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Short Interest Update

Adagene Inc. Sponsored ADR (NASDAQ:ADAG) saw a significant decline in short interest during the month of February. As of February 13th, there was short interest totaling 47,428 shares, a decline of 24.5% from the January 29th total of 62,815 shares. Based on an average trading volume of 121,740 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.1% of the company’s stock are sold short. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 121,740 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ADAG. Marex Group plc purchased a new position in Adagene in the 2nd quarter worth approximately $47,000. SmartHarvest Portfolios LLC acquired a new stake in shares of Adagene during the fourth quarter valued at about $73,000. Citadel Advisors LLC purchased a new stake in shares of Adagene during the third quarter worth about $80,000. Gordian Capital Singapore Pte Ltd lifted its stake in shares of Adagene by 101.4% in the third 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 in the last quarter. Finally, Fifth Lane Capital LP boosted its holdings in Adagene by 427.3% in the fourth quarter. Fifth Lane Capital LP now owns 145,000 shares of the company’s stock valued at $274,000 after purchasing an additional 117,500 shares during the last quarter. 9.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ADAG. Weiss Ratings restated a “sell (d-)” rating on shares of Adagene in a report on Wednesday, January 21st. Guggenheim started coverage on Adagene in a report on Monday, November 24th. They issued a “buy” rating and a $9.00 target price on the stock. Finally, Lifesci Capital raised Adagene to a “strong-buy” rating in a report on Friday, November 14th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $7.67.

Adagene Stock Performance

NASDAQ ADAG opened at $2.96 on Monday. Adagene has a one year low of $1.30 and a one year high of $3.53. The firm’s fifty day moving average is $2.40 and its two-hundred day moving average is $2.11.

About Adagene

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.