Adagene (NASDAQ:ADAG) Hits New 52-Week Low at $16.95

Adagene Inc. (NASDAQ:ADAG) hit a new 52-week low during trading on Wednesday . The stock traded as low as $16.95 and last traded at $16.95, with a volume of 17613 shares. The stock had previously closed at $17.75.

ADAG has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on shares of Adagene in a research note on Friday, March 5th. They issued a “buy” rating and a $29.00 target price on the stock. Morgan Stanley initiated coverage on shares of Adagene in a research note on Monday, March 15th. They issued an “overweight” rating and a $34.00 target price on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Adagene in a research note on Monday, March 15th. They issued a “buy” rating and a $33.00 target price on the stock.

The business’s fifty day simple moving average is $21.85.

About Adagene (NASDAQ:ADAG)

Adagene Inc, a clinical stage biopharmaceutical company, engages in the research, development, and production of monoclonal antibody drugs for cancers. Its products include ADG106, a human ligand-blocking agonistic anti-CD137 monoclonal antibodies (mAbs) that is in Phase Ib clinical trials for the treatment advanced solid tumors and non-Hodgkin's lymphoma; ADG126, a fully-human anti-CTLA-4 mAb that is in preclinical stage used in the treatment of cancers; and ADG116, a human ligand-blocking anti-CTLA-4 mAb, which is in Phase I clinical trial for the treatment of metastatic solid tumors.

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