Exome Asset Management LLC Trims Holdings in Adagene Inc. Sponsored ADR $ADAG

Exome Asset Management LLC decreased its holdings in shares of Adagene Inc. Sponsored ADR (NASDAQ:ADAG) by 30.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 736,845 shares of the company’s stock after selling 323,376 shares during the period. Adagene accounts for about 1.5% of Exome Asset Management LLC’s holdings, making the stock its 26th largest holding. Exome Asset Management LLC’s holdings in Adagene were worth $2,888,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Marex Group plc bought a new stake in shares of Adagene in the 2nd quarter worth approximately $47,000. Citadel Advisors LLC bought a new position in shares of Adagene during the third quarter valued at approximately $80,000. SmartHarvest Portfolios LLC bought a new position in shares of Adagene during the fourth quarter valued at approximately $73,000. Fifth Lane Capital LP lifted its stake in Adagene by 427.3% in the fourth quarter. Fifth Lane Capital LP now owns 145,000 shares of the company’s stock worth $274,000 after acquiring an additional 117,500 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Adagene in the first quarter worth $135,000. Hedge funds and other institutional investors own 9.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ADAG shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Adagene in a research report on Friday, July 17th. Guggenheim reaffirmed a “buy” rating and issued a $10.00 target price on shares of Adagene in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $8.00.

Adagene Stock Performance

Shares of ADAG stock opened at $3.53 on Tuesday. The company’s fifty day moving average price is $3.76 and its 200-day moving average price is $3.42. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.07 and a current ratio of 3.07. Adagene Inc. Sponsored ADR has a 12 month low of $1.30 and a 12 month high of $4.85.

Adagene Profile

Adagene Inc, headquartered in Suzhou, China, is a clinical-stage biopharmaceutical company specializing in the discovery and development of antibody-based therapeutics for cancer and immune-related diseases. Founded in 2017, the company leverages its proprietary immunome technology platform to mine human antibody repertoires and engineer novel monospecific and bispecific antibodies. Adagene’s pipeline includes multiple candidates in preclinical and early clinical development, with a focus on targeting tumor microenvironments and modulating immune checkpoints to enhance anti-tumor efficacy.

At the core of Adagene’s research and development efforts is its Bihanc™ antibody platform, which combines combinatorial phage display, structure-based design and artificial intelligence to optimize binding affinity, specificity and developability.