Adagene’s (ADAG) “Buy” Rating Reiterated at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Adagene (NASDAQ:ADAG) in a report issued on Wednesday morning,Benzinga reports. They currently have a $9.00 target price on the stock.

Other equities research analysts have also issued reports about the company. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Adagene in a research report on Monday, October 19th. Guggenheim reissued a “buy” rating and set a $10.00 price target on shares of Adagene in a research report on Tuesday, July 14th. Stifel Nicolaus set a $7.00 price target on Adagene in a research report on Monday, October 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Adagene in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Adagene presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.25.

Adagene Trading Down 6.3%

Shares of NASDAQ ADAG opened at $2.51 on Wednesday. Adagene has a 52-week low of $1.30 and a 52-week high of $4.85. The stock has a 50 day moving average price of $3.05 and a 200 day moving average price of $3.40.

Insider Activity

In other Adagene news, CEO Peter Luo acquired 22,966 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were purchased at an average cost of $3.65 per share, for a total transaction of $83,825.90. Following the completion of the purchase, the chief executive officer owned 67,966 shares in the company, valued at approximately $248,075.90. This trade represents a 51.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have purchased 47,535 shares of company stock worth $162,258 in the last 90 days. 21.20% of the stock is currently owned by company insiders.

Institutional Trading of Adagene

An institutional investor recently bought a new position in Adagene stock. Renaissance Technologies LLC bought a new stake in shares of Adagene Inc. Sponsored ADR (NASDAQ:ADAG) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 34,533 shares of the company’s stock, valued at approximately $135,000. Renaissance Technologies LLC owned approximately 0.07% of Adagene at the end of the most recent quarter. 9.51% of the stock is owned by institutional investors and hedge funds.

Adagene Company Profile

Adagene Inc is a clinical-stage biopharmaceutical company focused on developing antibody-based cancer immunotherapies. The company uses computational technologies and antibody-engineering capabilities to discover and develop therapies designed to activate the immune system against tumors while limiting activity in healthy tissues.

Adagene’s proprietary SAFEbody technology is designed to conditionally mask antibody binding sites so that therapies are preferentially activated in the tumor microenvironment.