WuXi AppTec Co. Ltd. Takes Position in Adagene Inc. (NASDAQ:ADAG)

WuXi AppTec Co. Ltd. acquired a new stake in Adagene Inc. (NASDAQ:ADAG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,225,696 shares of the company’s stock, valued at approximately $8,162,000. Adagene accounts for about 21.2% of WuXi AppTec Co. Ltd.’s investment portfolio, making the stock its 3rd biggest position. WuXi AppTec Co. Ltd. owned about 9.64% of Adagene at the end of the most recent reporting period.

Adagene Stock Performance

Shares of Adagene stock traded down $0.06 during mid-day trading on Wednesday, hitting $2.19. The stock had a trading volume of 197,731 shares, compared to its average volume of 84,472. The firm has a 50-day moving average of $2.74 and a two-hundred day moving average of $2.45. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.61 and a current ratio of 3.61. Adagene Inc. has a 12-month low of $1.10 and a 12-month high of $4.38.

About Adagene

Adagene Inc, a clinical stage immunotherapy 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 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 I clinical trial for the treatment of advanced metastatic solid tumors.