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

HC Wainwright reiterated their buy rating on shares of Adagene (NASDAQ:ADAG) in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a $8.00 price objective on the stock.

Separately, Morgan Stanley downgraded Adagene from an “overweight” rating to an “equal weight” rating in a research report on Friday, January 31st.

Adagene Trading Down 3.6 %

Adagene stock opened at $1.58 on Thursday. Adagene has a one year low of $1.33 and a one year high of $3.58. The stock has a fifty day moving average of $1.84 and a 200 day moving average of $2.12.

Institutional Trading of Adagene

A number of institutional investors have recently made changes to their positions in ADAG. Fifth Lane Capital LP purchased a new position in shares of Adagene in the 4th quarter valued at approximately $54,000. Catalina Capital Group LLC raised its stake in shares of Adagene by 129.2% in the fourth quarter. Catalina Capital Group LLC now owns 29,198 shares of the company’s stock worth $58,000 after purchasing an additional 16,461 shares during the last quarter. Kamunting Street Capital Management L.P. purchased a new position in shares of Adagene in the fourth quarter worth about $251,000. Mill Creek Capital Advisors LLC lifted its holdings in shares of Adagene by 119.6% during the fourth quarter. Mill Creek Capital Advisors LLC now owns 199,610 shares of the company’s stock worth $397,000 after purchasing an additional 108,702 shares during the period. Finally, Exome Asset Management LLC boosted its position in Adagene by 74.1% in the third quarter. Exome Asset Management LLC now owns 262,625 shares of the company’s stock valued at $583,000 after buying an additional 111,749 shares during the last quarter. Institutional investors and hedge funds own 9.51% of the company’s stock.

Adagene Company Profile

Adagene Inc, a clinical stage biotechnology company, engages in the research, development, and production of monoclonal antibody drugs for cancers. The company's product candidates include ADG106, a human ligand-blocking agonistic anti- CD137 IgG4 monoclonal antibodies (mAbs) that is in Phase 1b/2 clinical trials for the treatment advanced solid tumors and non-Hodgkin's lymphoma; ADG126, a masked fully-human anti-CTLA-4 mAb that is in Phase 1 clinical trial for the treatment advanced/metastatic solid tumors; and ADG116, a human ligand-blocking anti-CTLA-4 mAb, which is in Phase 1b/2 clinical development for the treatment of advanced/metastatic solid tumors.