Adagene Inc. (NASDAQ:ADAG) Short Interest Update

Adagene Inc. (NASDAQ:ADAG) was the target of a significant increase in short interest in 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 days-to-cover ratio is currently 1.3 days. Currently, 0.2% of the company’s shares are short sold.

Adagene Price Performance

Shares of ADAG opened at $1.84 on Friday. Adagene has a 52-week low of $1.74 and a 52-week high of $4.38. The business’s 50 day moving average price is $2.10 and its two-hundred day moving average price is $2.45.

Institutional Trading of Adagene

A hedge fund recently raised its stake in Adagene stock. Exome Asset Management LLC increased its position in Adagene Inc. (NASDAQ:ADAG) by 74.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 262,625 shares of the company’s stock after purchasing an additional 111,749 shares during the period. Exome Asset Management LLC owned approximately 0.59% of Adagene worth $583,000 at the end of the most recent quarter. Institutional investors own 9.51% of the company’s stock.

Adagene Company Profile

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.