Adagene Inc. (NASDAQ:ADAG) Shares Sold by FIL Ltd

FIL Ltd trimmed its position in Adagene Inc. (NASDAQ:ADAG) by 9.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,274,798 shares of the company’s stock after selling 325,598 shares during the period. FIL Ltd owned approximately 7.40% of Adagene worth $6,386,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. General Atlantic L.P. increased its holdings in shares of Adagene by 1,349.2% in the fourth quarter. General Atlantic L.P. now owns 3,825,952 shares of the company’s stock valued at $7,614,000 after buying an additional 3,561,952 shares in the last quarter. Exome Asset Management LLC lifted its holdings in shares of Adagene by 74.1% during the third quarter. Exome Asset Management LLC now owns 262,625 shares of the company’s stock valued at $583,000 after purchasing an additional 111,749 shares during the last quarter. Mill Creek Capital Advisors LLC boosted its position in shares of Adagene by 119.6% in the 4th quarter. Mill Creek Capital Advisors LLC now owns 199,610 shares of the company’s stock valued at $397,000 after purchasing an additional 108,702 shares during the period. Finally, Catalina Capital Group LLC increased its stake in Adagene by 129.2% in the 4th 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 in the last quarter. 9.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ADAG shares. HC Wainwright reissued a “buy” rating and issued a $8.00 target price on shares of Adagene in a research report on Thursday, April 3rd. Morgan Stanley downgraded shares of Adagene from an “overweight” rating to an “equal weight” rating in a research note on Friday, January 31st.

Adagene Stock Up 3.4 %

NASDAQ:ADAG opened at $1.53 on Friday. The stock’s 50-day moving average is $1.79 and its two-hundred day moving average is $2.08. Adagene Inc. has a fifty-two week low of $1.33 and a fifty-two week high of $3.58.

Adagene 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.