Morgan Stanley cut shares of Adagene (NASDAQ:ADAG – Free Report) from an overweight rating to an equal weight rating in a report published on Friday morning, MarketBeat reports.
Separately, HC Wainwright increased their price objective on Adagene from $5.00 to $8.00 and gave the company a “buy” rating in a research report on Monday, January 27th.
View Our Latest Stock Report on Adagene
Adagene Price Performance
Institutional Trading of Adagene
Several institutional investors and hedge funds have recently bought and sold shares of ADAG. Mill Creek Capital Advisors LLC purchased a new position in Adagene during the third quarter valued at $202,000. Exome Asset Management LLC increased its stake in shares of Adagene by 74.1% in the 3rd quarter. Exome Asset Management LLC now owns 262,625 shares of the company’s stock worth $583,000 after acquiring an additional 111,749 shares in the last quarter. Finally, Catalina Capital Group LLC lifted its position in Adagene by 129.2% during the 4th quarter. Catalina Capital Group LLC now owns 29,198 shares of the company’s stock valued at $58,000 after acquiring an additional 16,461 shares during the period. 9.51% of the stock is currently owned by hedge funds and other institutional investors.
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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