How Is The Market Feeling About Adagene?
Portfolio Pulse from Benzinga Insights
Adagene (NYSE:ADAG) has seen a 20% decrease in short interest since its last report, with 25 thousand shares currently sold short, representing 0.08% of available shares. The short interest now takes approximately 1.04 days to cover. This decline in short interest may indicate a more bullish sentiment towards ADAG compared to the last report. However, it does not necessarily predict a near-term rise in stock price. Adagene's short interest is significantly lower than its peer group average of 5.59%.
January 18, 2024 | 1:00 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Adagene's short interest has decreased, which may suggest a more bullish market sentiment towards the company. The short interest is lower than the peer group average.
A decrease in short interest typically indicates that investors are less bearish on a stock, which could lead to a potential increase in its price in the short term. However, the impact on the stock price is not guaranteed and will depend on broader market conditions and investor sentiment. The fact that Adagene's short interest is below the peer group average suggests a relatively positive sentiment towards the company.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100