Adagene Inc. (NASDAQ:ADAG) Sees Large Drop in Short Interest

Adagene Inc. (NASDAQ:ADAGGet Free Report) saw a significant drop in short interest in May. As of May 15th, there was short interest totalling 11,100 shares, a drop of 26.5% from the April 30th total of 15,100 shares. Based on an average daily trading volume, of 34,900 shares, the short-interest ratio is presently 0.3 days. Approximately 0.0% of the shares of the stock are short sold.

Institutional Trading of Adagene

A hedge fund recently bought a new stake in Adagene stock. WuXi AppTec Co. Ltd. acquired a new position in Adagene Inc. (NASDAQ:ADAGFree Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 4,225,696 shares of the company’s stock, valued at approximately $8,162,000. Adagene makes up about 21.2% of WuXi AppTec Co. Ltd.’s holdings, making the stock its 3rd largest holding. WuXi AppTec Co. Ltd. owned about 9.64% of Adagene as of its most recent SEC filing. 9.51% of the stock is owned by hedge funds and other institutional investors.

Adagene Price Performance

ADAG stock opened at $2.60 on Friday. The company has a current ratio of 3.61, a quick ratio of 3.61 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average of $2.60 and a 200-day moving average of $2.58. Adagene has a 12-month low of $1.10 and a 12-month high of $4.38.

Adagene Company Profile

(Get Free Report)

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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