FIL Ltd reduced its position in Adagene Inc. (NASDAQ:ADAG - Free Report) by 9.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,274,798 shares of the company's stock after selling 325,598 shares during the quarter. FIL Ltd owned approximately 7.40% of Adagene worth $6,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently made changes to their positions in ADAG. General Atlantic L.P. grew its stake in shares of Adagene by 1,349.2% during the 4th quarter. General Atlantic L.P. now owns 3,825,952 shares of the company's stock worth $7,614,000 after acquiring an additional 3,561,952 shares during the period. Exome Asset Management LLC lifted its holdings in Adagene by 74.1% during the third quarter. Exome Asset Management LLC now owns 262,625 shares of the company's stock valued at $583,000 after purchasing an additional 111,749 shares during the last quarter. Mill Creek Capital Advisors LLC boosted its position in Adagene by 119.6% during the fourth quarter. Mill Creek Capital Advisors LLC now owns 199,610 shares of the company's stock worth $397,000 after purchasing an additional 108,702 shares during the period. Finally, Catalina Capital Group LLC increased its stake in shares of Adagene by 129.2% in the fourth quarter. Catalina Capital Group LLC now owns 29,198 shares of the company's stock worth $58,000 after purchasing an additional 16,461 shares in the last quarter. 9.51% of the stock is currently owned by institutional investors.
Adagene Stock Down 3.2 %
NASDAQ ADAG traded down $0.05 during trading hours on Friday, hitting $1.53. The company had a trading volume of 12,311 shares, compared to its average volume of 60,451. Adagene Inc. has a 52 week low of $1.33 and a 52 week high of $3.58. The firm has a 50 day simple moving average of $1.77 and a 200 day simple moving average of $2.07.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the stock. Morgan Stanley cut shares of Adagene from an "overweight" rating to an "equal weight" rating in a research note on Friday, January 31st. HC Wainwright restated a "buy" rating and set a $8.00 target price on shares of Adagene in a research report on Thursday, April 3rd.
Get Our Latest Analysis on Adagene
About Adagene
(
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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