Shares of Adagene Inc. Sponsored ADR (NASDAQ:ADAG – Get Free Report) have been given an average recommendation of “Moderate Buy” by the five research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $8.25.
Several analysts have issued reports on the stock. Stifel Nicolaus set a $7.00 price target on shares of Adagene in a research report on Monday, October 19th. Chardan Capital reaffirmed a “buy” rating and set a $9.00 price objective on shares of Adagene in a research note on Wednesday, October 28th. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Adagene in a report on Monday, October 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adagene in a research note on Thursday, October 15th. Finally, Guggenheim restated a “buy” rating and set a $10.00 target price on shares of Adagene in a report on Tuesday, July 14th.
Check Out Our Latest Report on Adagene
Insider Buying and Selling
In related news, CEO Peter Luo purchased 20,290 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were acquired at an average cost of $3.15 per share, with a total value of $63,913.50. Following the purchase, the chief executive officer directly owned 88,535 shares of the company’s stock, valued at approximately $278,885.25. This trade represents a 29.73% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders purchased 24,569 shares of company stock valued at $78,432. 21.20% of the stock is owned by insiders.
Institutional Trading of Adagene
A hedge fund recently bought a new position in Adagene stock. Renaissance Technologies LLC bought a new position in Adagene Inc. Sponsored ADR (NASDAQ:ADAG – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 34,533 shares of the company’s stock, valued at approximately $135,000. Renaissance Technologies LLC owned about 0.07% of Adagene as of its most recent filing with the Securities & Exchange Commission. 9.51% of the stock is currently owned by institutional investors.
Adagene Trading Down 8.8%
Shares of NASDAQ:ADAG opened at $2.29 on Tuesday. The company’s fifty day moving average is $3.02 and its 200 day moving average is $3.41. Adagene has a 52 week low of $1.30 and a 52 week high of $4.85.
About Adagene
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.
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