Peter Luo Acquires 20,290 Shares of Adagene (NASDAQ:ADAG) Stock

Adagene Inc. Sponsored ADR (NASDAQ:ADAG) CEO Peter Luo acquired 20,290 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was purchased at an average cost of $3.15 per share, with a total value of $63,913.50. Following the purchase, the chief executive officer owned 88,535 shares of the company’s stock, valued at $278,885.25. The trade was a 29.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Peter Luo also recently made the following trade(s):

• On Wednesday, August 5th, Peter Luo bought 279 shares of Adagene stock. The shares were acquired at an average cost of $3.65 per share, for a total transaction of $1,018.35.
• On Tuesday, August 4th, Peter Luo purchased 22,966 shares of Adagene stock. The stock was acquired at an average price of $3.65 per share, for a total transaction of $83,825.90.

Adagene Trading Down 1.8%

ADAG opened at $3.31 on Friday. The business has a fifty day moving average of $3.67 and a 200 day moving average of $3.72. Adagene Inc. Sponsored ADR has a 52-week low of $1.30 and a 52-week high of $4.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.07 and a current ratio of 5.02.

Analysts Set New Price Targets

A number of research firms have recently commented on ADAG. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Adagene in a report on Monday, September 14th. 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 set a $10.00 target price on shares of Adagene in a research report on Tuesday, July 14th. Finally, Chardan Capital initiated coverage on shares of Adagene in a research note on Thursday, September 10th. They set a “buy” rating and a $9.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $8.67.

Institutional Investors Weigh In On Adagene

An institutional investor recently bought a new position in Adagene stock. Renaissance Technologies LLC acquired a new position in Adagene Inc. Sponsored ADR (NASDAQ:ADAG) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 34,533 shares of the company’s stock, valued at approximately $135,000. Renaissance Technologies LLC owned approximately 0.07% of Adagene as of its most recent SEC filing. Institutional investors and hedge funds own 9.51% of the company’s stock.

About Adagene

Adagene Inc is a clinical-stage biopharmaceutical company focused on discovering and developing antibody-based medicines for cancer and other serious diseases. The company combines computational antibody-design capabilities with laboratory-based discovery and development platforms to create differentiated therapeutic candidates.

Adagene’s technology portfolio includes its SAFEbody platform, which is designed to mask antibody binding sites until the medicines reach the tumor microenvironment, potentially improving tumor selectivity and reducing activity in healthy tissue.