Peter Luo, Chief Executive Officer at Adagene Inc. (ADAG), bought 20,290 shares at $3.15 ($64K) on 2026-09-16, disclosed to the SEC on 2026-09-17.
CEO Peter Luo purchased $63,981 worth of shares at $3.15, signaling confidence in the stock's valuation following a sharp decline. This insider buying comes as the company advances its ADG126 antibody program in colorectal cancer.
ADAG has dropped 22.64% over the last 30 days and is currently trading 34.85% below its 52-week high of $4.85, despite being upgraded to a Zacks Rank #2 (Buy) on June 5, 2026.
1) Upcoming clinical data update for ADG126 in metastatic microsatellite-stable colorectal cancer (MSS-CRC) expected soon per March 10, 2026 conference talk; 2) Clinical collaboration with Incyte (INCY) to evaluate combination therapy for MSS-CRC announced April 2, 2026; 3) Zacks upgrade to Buy on June 5, 2026.
The stock is currently trading at a forward P/E of -5.67, indicating potential profitability concerns, and short interest remains elevated at 3.63% of the float.
Something here stands out, but not much.