Adagene Inc. (NASDAQ:ADAG) Short Interest Update

Adagene Inc. (NASDAQ:ADAG) saw a large increase in short interest in June. As of June 15th, there was short interest totalling 13,500 shares, an increase of 400.0% from the May 31st total of 2,700 shares. Based on an average daily trading volume, of 32,700 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.0% of the shares of the stock are sold short.

Institutional Trading of Adagene

An institutional investor recently raised its position in Adagene stock. Artal Group S.A. grew its position in shares of Adagene Inc. (NASDAQ:ADAG) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,020,000 shares of the company’s stock after purchasing an additional 20,000 shares during the period. Artal Group S.A. owned approximately 2.31% of Adagene worth $2,856,000 at the end of the most recent reporting period. Institutional investors own 9.51% of the company’s stock.

Adagene Stock Performance

Shares of Adagene stock traded down $0.02 during trading hours on Thursday, hitting $2.98. The company’s stock had a trading volume of 28,621 shares, compared to its average volume of 72,973. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.61 and a quick ratio of 3.61. The business has a 50 day moving average price of $2.62 and a two-hundred day moving average price of $2.76. Adagene has a 12-month low of $1.10 and a 12-month high of $4.38.

About Adagene

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.