HC Wainwright Estimates Adagene FY2029 Earnings

Adagene Inc. (NASDAQ:ADAG - Free Report) - Research analysts at HC Wainwright issued their FY2029 earnings per share (EPS) estimates for shares of Adagene in a report released on Monday, January 27th. HC Wainwright analyst A. He forecasts that the company will earn ($0.56) per share for the year. HC Wainwright currently has a "Buy" rating and a $8.00 target price on the stock. The consensus estimate for Adagene's current full-year earnings is ($0.60) per share.

Separately, Morgan Stanley lowered Adagene from an "overweight" rating to an "equal weight" rating in a research report on Friday.

Adagene Stock Up 2.7 %

Shares of NASDAQ ADAG traded up $0.05 during mid-day trading on Tuesday, hitting $1.90. The stock had a trading volume of 39,483 shares, compared to its average volume of 150,776. The business has a 50 day moving average price of $2.02 and a two-hundred day moving average price of $2.39. Adagene has a 1 year low of $1.74 and a 1 year high of $3.85.

Institutional Investors Weigh In On Adagene

Large investors have recently modified their holdings of the stock. Exome Asset Management LLC raised its holdings in Adagene by 74.1% in the third quarter. Exome Asset Management LLC now owns 262,625 shares of the company's stock worth $583,000 after purchasing an additional 111,749 shares in the last quarter. Mill Creek Capital Advisors LLC increased its stake in shares of Adagene by 119.6% in the 4th quarter. Mill Creek Capital Advisors LLC now owns 199,610 shares of the company's stock worth $397,000 after acquiring an additional 108,702 shares in the last quarter. Finally, Catalina Capital Group LLC boosted its stake in Adagene by 129.2% during the fourth quarter. Catalina Capital Group LLC now owns 29,198 shares of the company's stock worth $58,000 after acquiring an additional 16,461 shares in the last 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.