Adagene Inc. (NASDAQ:ADAG) Short Interest Down 38.6% in March

Adagene Inc. (NASDAQ:ADAG) saw a large decrease in short interest in March. As of March 31st, there was short interest totalling 13,700 shares, a decrease of 38.6% from the March 15th total of 22,300 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 105,400 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Adagene

A number of institutional investors have recently made changes to their positions in the business. WuXi AppTec Co. Ltd. purchased a new stake in shares of Adagene in the 4th quarter valued at $8,162,000. Renaissance Technologies LLC boosted its stake in shares of Adagene by 339.6% in the 3rd quarter. Renaissance Technologies LLC now owns 95,800 shares of the company’s stock valued at $123,000 after purchasing an additional 74,006 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Adagene in the 2nd quarter valued at $40,000. Hedge funds and other institutional investors own 9.51% of the company’s stock.

Adagene Stock Performance

Shares of Adagene stock opened at $2.99 on Thursday. Adagene has a 52-week low of $1.10 and a 52-week high of $4.38. The company has a fifty day moving average of $3.08 and a 200-day moving average of $2.31. The company has a quick ratio of 3.61, a current ratio of 3.61 and a debt-to-equity ratio of 0.19.

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.