Adagene Inc. (NASDAQ:ADAG - Get Free Report) 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. Approximately 0.2% of the company's stock are sold short. Based on an average daily trading volume, of 60,400 shares, the days-to-cover ratio is currently 1.3 days.
Adagene Stock Performance
Shares of ADAG stock remained flat at $1.84 during trading hours on Friday. 7,917 shares of the company were exchanged, compared to its average volume of 13,938. The stock has a 50-day moving average price of $2.12 and a two-hundred day moving average price of $2.46. Adagene has a 12-month low of $1.74 and a 12-month high of $4.38.
Institutional Investors Weigh In On Adagene
A hedge fund recently bought a new stake in Adagene stock. Mill Creek Capital Advisors LLC bought a new stake in Adagene Inc. (NASDAQ:ADAG - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 90,908 shares of the company's stock, valued at approximately $202,000. Mill Creek Capital Advisors LLC owned about 0.21% of Adagene at the end of the most recent reporting period. 9.51% of the stock is currently owned by hedge funds and other institutional investors.
About Adagene
(
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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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