Adagene (NASDAQ:ADAG) Shares Down 3.1% – Should You Sell?
by Tristan Rich · The Markets DailyAdagene Inc. Sponsored ADR (NASDAQ:ADAG – Get Free Report)’s share price traded down 3.1% during trading on Thursday . The stock traded as low as $3.95 and last traded at $4.12. Approximately 313,618 shares traded hands during trading, an increase of 50% from the average daily volume of 208,829 shares. The stock had previously closed at $4.25.
Analysts Set New Price Targets
A number of analysts have weighed in on ADAG shares. Wall Street Zen raised Adagene to a “hold” rating in a research report on Saturday, March 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Adagene in a research note on Monday, April 20th. Finally, Guggenheim boosted their target price on Adagene from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, April 6th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $8.00.
View Our Latest Stock Analysis on Adagene
Adagene Price Performance
The stock’s fifty day simple moving average is $3.69 and its 200-day simple moving average is $3.12. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03.
Adagene (NASDAQ:ADAG – Get Free Report) last posted its quarterly earnings data on Saturday, February 14th. The company reported ($0.04) EPS for the quarter. The firm had revenue of $3.84 million during the quarter. As a group, equities analysts anticipate that Adagene Inc. Sponsored ADR will post -0.49 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of ADAG. Marex Group plc acquired a new stake in shares of Adagene in the second quarter worth $47,000. SmartHarvest Portfolios LLC acquired a new position in Adagene during the 4th quarter valued at $73,000. Citadel Advisors LLC acquired a new position in Adagene during the 3rd quarter valued at $80,000. Gordian Capital Singapore Pte Ltd boosted its holdings in Adagene by 101.4% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 48,342 shares of the company’s stock valued at $96,000 after purchasing an additional 24,342 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Adagene in the 1st quarter worth $135,000. 9.51% of the stock is currently owned by institutional investors and hedge funds.
Adagene Company Profile
Adagene Inc, headquartered in Suzhou, China, is a clinical-stage biopharmaceutical company specializing in the discovery and development of antibody-based therapeutics for cancer and immune-related diseases. Founded in 2017, the company leverages its proprietary immunome technology platform to mine human antibody repertoires and engineer novel monospecific and bispecific antibodies. Adagene’s pipeline includes multiple candidates in preclinical and early clinical development, with a focus on targeting tumor microenvironments and modulating immune checkpoints to enhance anti-tumor efficacy.
At the core of Adagene’s research and development efforts is its Bihanc™ antibody platform, which combines combinatorial phage display, structure-based design and artificial intelligence to optimize binding affinity, specificity and developability.