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General Atlantic L.P. Acquires 3,561,952 Shares of Adagene Inc. (NASDAQ:ADAG)

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General Atlantic L.P. grew its holdings in Adagene Inc. (NASDAQ:ADAG - Free Report) by 1,349.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,825,952 shares of the company's stock after purchasing an additional 3,561,952 shares during the period. Adagene comprises 0.3% of General Atlantic L.P.'s portfolio, making the stock its 14th largest holding. General Atlantic L.P. owned about 8.64% of Adagene worth $7,614,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Catalina Capital Group LLC increased its holdings in shares of Adagene by 129.2% in the 4th quarter. Catalina Capital Group LLC now owns 29,198 shares of the company's stock valued at $58,000 after purchasing an additional 16,461 shares during the period. Mill Creek Capital Advisors LLC increased its holdings 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 valued at $397,000 after purchasing an additional 108,702 shares during the period. Finally, Exome Asset Management LLC increased its holdings 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 valued at $583,000 after purchasing an additional 111,749 shares during the period. Institutional investors and hedge funds own 9.51% of the company's stock.

Adagene Trading Down 10.1 %

Shares of NASDAQ ADAG traded down $0.20 during trading hours on Friday, hitting $1.77. The stock had a trading volume of 58,838 shares, compared to its average volume of 75,992. The firm's 50-day moving average price is $1.91 and its two-hundred day moving average price is $2.26. Adagene Inc. has a 52 week low of $1.64 and a 52 week high of $3.58.

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Wall Street Analyst Weigh In

ADAG has been the topic of a number of research reports. HC Wainwright upped their target price on Adagene from $5.00 to $8.00 and gave the company a "buy" rating in a report on Monday, January 27th. Morgan Stanley cut Adagene from an "overweight" rating to an "equal weight" rating in a research note on Friday, January 31st.

View Our Latest Analysis on ADAG

Adagene Company Profile

(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.

Further Reading

Institutional Ownership by Quarter for Adagene (NASDAQ:ADAG)

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