Adagene Inc. (NASDAQ:ADAG – Get Free Report) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 79,600 shares, an increase of 21.9% from the December 15th total of 65,300 shares. Based on an average daily volume of 60,400 shares, the short-interest ratio is currently 1.3 days. Approximately 0.2% of the shares of the company are short sold.
Adagene Price Performance
Shares of NASDAQ ADAG opened at $1.84 on Friday. The stock has a fifty day simple moving average of $2.10 and a two-hundred day simple moving average of $2.45. Adagene has a 1-year low of $1.74 and a 1-year high of $4.38.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Adagene stock. Exome Asset Management LLC raised its holdings in shares of Adagene Inc. (NASDAQ:ADAG – Free Report) by 74.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 262,625 shares of the company’s stock after purchasing an additional 111,749 shares during the quarter. Exome Asset Management LLC owned approximately 0.59% of Adagene worth $583,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 9.51% of the company’s stock.
About Adagene
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.
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