Key Points
- Adagene CEO Peter Luo purchased 22,966 shares at an average price of $3.65, investing approximately $83,826 and increasing his ownership by 51.04% to 67,966 shares. He also bought 279 additional shares the following day.
- Adagene shares opened at $4.14, with a 1-year trading range of $1.30 to $4.85. The stock has a consensus “Moderate Buy” rating and an average analyst price target of $8.50, although ratings range from Strong Buy to Sell.
- Institutional investors and hedge funds own approximately 9.51% of Adagene, with several firms recently establishing or expanding positions in the clinical-stage biopharmaceutical company.
Adagene Inc. Sponsored ADR (NASDAQ:ADAG - Get Free Report) CEO Peter Luo bought 22,966 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were bought at an average cost of $3.65 per share, with a total value of $83,825.90. Following the completion of the transaction, the chief executive officer owned 67,966 shares in the company, valued at $248,075.90. The trade was a 51.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Peter Luo also recently made the following trade(s):
- On Wednesday, August 5th, Peter Luo purchased 279 shares of Adagene stock. The stock was bought at an average price of $3.65 per share, for a total transaction of $1,018.35.
Adagene Trading Down 2.1%
Shares of ADAG stock opened at $4.14 on Friday. The stock has a 50-day moving average of $3.78 and a 200-day moving average of $3.54. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.07 and a quick ratio of 3.07. Adagene Inc. Sponsored ADR has a 1-year low of $1.30 and a 1-year high of $4.85.
Analysts Set New Price Targets
A number of analysts have weighed in on the stock. Guggenheim reissued a "buy" rating and set a $10.00 target price on shares of Adagene in a research report on Tuesday, July 14th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Adagene in a research report on Friday, July 17th. One research analyst has 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, Adagene currently has an average rating of "Moderate Buy" and a consensus price target of $8.50.
Read Our Latest Research Report on Adagene
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Exome Asset Management LLC acquired a new position in Adagene during the 4th quarter valued at about $2,004,000. Fifth Lane Capital LP raised its stake in shares of Adagene by 427.3% in the fourth quarter. Fifth Lane Capital LP now owns 145,000 shares of the company's stock worth $274,000 after purchasing an additional 117,500 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of Adagene in the third quarter valued at approximately $80,000. SmartHarvest Portfolios LLC bought a new position in shares of Adagene in the fourth quarter valued at approximately $73,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Adagene during the first quarter valued at approximately $135,000. Institutional investors and hedge funds own 9.51% of the company's stock.
Adagene Company Profile
(
Get Free Report)
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.
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