Adagene’s (ADAG) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Adagene (NASDAQ:ADAG) in a research note released on Monday, MarketBeat reports. The firm currently has a $7.00 price objective on the stock.

ADAG has been the topic of several other reports. Chardan Capital assumed coverage on shares of Adagene in a research report on Thursday, September 10th. They issued a “buy” rating and a $9.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Adagene in a research note on Thursday, October 15th. Finally, Guggenheim reaffirmed a “buy” rating and set a $10.00 target price on shares of Adagene in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.25.

Adagene Stock Down 3.6%

ADAG stock opened at $2.41 on Monday. The company has a fifty day moving average price of $3.24 and a two-hundred day moving average price of $3.59. Adagene has a one year low of $1.30 and a one year high of $4.85.

Insider Transactions at Adagene

In other news, CEO Peter Luo acquired 20,290 shares of the firm’s stock in a transaction on 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 acquisition, the chief executive officer directly owned 88,535 shares in the company, valued at $278,885.25. This represents a 29.73% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders acquired 47,535 shares of company stock valued at $162,258. Insiders own 21.20% of the company’s stock.

Institutional Investors Weigh In On Adagene

A hedge fund recently bought a new position 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 Securities and Exchange Commission (SEC). The fund bought 34,533 shares of the company’s stock, valued at approximately $135,000. Renaissance Technologies LLC owned 0.07% of Adagene as of its most recent filing with the Securities and Exchange Commission (SEC). 9.51% of the stock is currently owned by institutional investors and hedge funds.

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.