Adagene (NASDAQ:ADAG) Stock Rating Reaffirmed by HC Wainwright

Adagene (NASDAQ:ADAG)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research report issued on Friday, Benzinga reports. They presently have a $5.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 262.32% from the company’s current price.

Adagene Stock Performance

Shares of Adagene stock opened at $1.38 on Friday. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.17. Adagene has a 52-week low of $0.90 and a 52-week high of $2.10. The company has a 50 day moving average of $1.37 and a 200 day moving average of $1.42.

Hedge Funds Weigh In On Adagene

An institutional investor recently bought a new position in Adagene stock. Virtu Financial LLC acquired a new stake in Adagene Inc. (NASDAQ:ADAG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 19,676 shares of the company’s stock, valued at approximately $40,000. 9.51% of the stock is currently owned by institutional investors.

Adagene Company Profile

Adagene Inc, a clinical stage immunotherapy 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 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 I clinical trial for the treatment of advanced metastatic solid tumors.