What is the 13F Pro Quality Score for ADAG?

13F Pro ranks Adagene Inc. (ADAG) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View ADAG's current score at https://13fpro.ai/company/ADAG (free sign-up required for the full ranking).

Where does 13F Pro source ADAG data?

All Adagene Inc. fundamentals and ownership data come directly from SEC EDGAR. Adagene Inc. files with the SEC under CIK 1818838. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is ADAG in?

Adagene Inc. (ADAG) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

How often is ADAG research updated on 13F Pro?

ADAG's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Adagene Inc.(ADAG)Stock Analysis

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13F Pro Quality Score

23.7/100

Rank #2,715 of 2,961 stocks

View Healthcare peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

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Why ADAG Scores 24/100

exact factor attribution · 2026-09-11

ADAG's composite is driven by institutional flow, held back by free cash flow and profitability. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Institutional flow

+2.4 pts

97th pct

Earnings growth

-1.0 pts

30th pct

Shareholder dilution

-2.1 pts

8th pct

Scale

-3.0 pts

30th pct

Earnings quality

-3.0 pts

20th pct

Capital efficiency

-3.4 pts

17th pct

Revenue growth

-4.0 pts

30th pct

Profitability

-6.0 pts

10th pct

Free cash flow

-6.2 pts

9th pct

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

ADAG Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for Adagene Inc. (ADAG), a Healthcare sector company. 13F Pro's AI-powered ranking engine scores ADAG at 23.7/100 on a 32-signal composite quality model, placing it at rank #2,715 of 2,961 stocks — the bottom half of the AI-ranked universe. Based on the latest XBRL financial filings (FY 2025), Adagene Inc. reports quarterly revenue of $7.7M, net income of $-17.6M, free cash flow of $-15.7M. Top institutional holders of ADAG by reported 13-F value include Jupiter Topco, Siren, L.L.C., DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C), based on the most recent SEC filings. ADAG trades on the Nasdaq exchange and files with the SEC under CIK 1818838. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate ADAG daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Adagene Inc. directly from SEC EDGAR.

Revenue

FY 2025

$7.7M

Net Income

FY 2025

$-17.6M

Free Cash Flow

FY 2025

$-15.7M

ROIC

FY 2025

-51.7%

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+7332.8% YoY

$7.7MFY 2025

FY22 $9.3MFY23 $18.1MFY24 $103.2KFY25 $7.7M

Net Income

+47.3% YoY

$-17.6MFY 2025

FY22 $-80.0MFY23 $-18.9MFY24 $-33.4MFY25 $-17.6M

Operating Income

+40.4% YoY

$-21.4MFY 2025

FY22 $-83.9MFY23 $-23.7MFY24 $-36.0MFY25 $-21.4M

EPS (Diluted)

+49.2% YoY

$-0.30FY 2025

FY22 $-1.48FY23 $-0.35FY24 $-0.59FY25 $-0.30

Total Assets

-12.3% YoY

$78.3MFY 2025

FY22 $152.4MFY23 $115.7MFY24 $89.3MFY25 $78.3M

Total Debt

-66.4% YoY

$6.1MFY 2025

FY22 $27.8MFY23 $21.9MFY24 $18.2MFY25 $6.1M

Op. Cash Flow

+47.3% YoY

$-15.7MFY 2025

FY22 $-48.6MFY23 $-28.5MFY24 $-29.7MFY25 $-15.7M

Free Cash Flow

+47.3% YoY

$-15.7MFY 2025

FY22 $-49.3MFY23 $-28.5MFY24 $-29.7MFY25 $-15.7M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$7.7M +7332.8%	$103.2K -99.4%	$18.1M +94.9%	$9.3M -8.7%	$10.2M +1351.7%	$700.9K
Net Income	$-17.6M +47.3%	$-33.4M -76.4%	$-18.9M +76.3%	$-80.0M -9.3%	$-73.2M -72.6%	$-42.4M
Operating Income	$-21.4M +40.4%	$-36.0M -51.6%	$-23.7M +71.7%	$-83.9M -16.0%	$-72.4M -67.7%	$-43.2M
EPS (Diluted)	$-0.30 +49.2%	$-0.59 -68.6%	$-0.35 +76.4%	$-1.48 -1.4%	$-1.46 +45.3%	$-2.67
Total Assets	$78.3M -12.3%	$89.3M -22.9%	$115.7M -24.1%	$152.4M -19.6%	$189.5M +124.9%	$84.3M
Total Debt	$6.1M -66.4%	$18.2M -17.0%	$21.9M -21.0%	$27.8M +270.7%	$7.5M -6.2%	$8.0M
Operating Cash Flow	$-15.7M +47.3%	$-29.7M -4.4%	$-28.5M +41.5%	$-48.6M -12.0%	$-43.4M -52.2%	$-28.5M
Free Cash Flow	$-15.7M +47.3%	$-29.7M -4.2%	$-28.5M +42.1%	$-49.3M -7.4%	$-45.9M -55.9%	$-29.5M

AI Insight: ADAG Financial Trends

Adagene has systematically reduced debt and equity burn, cutting total debt 93% from Q4 2020 to Q4 2025, but lacks operational visibility with no revenue or cash-flow data disclosed.

• Total debt fell from $8M (Q4 2020) to $6M (Q4 2025); leverage declining consistently across all periods.

• Equity deteriorated from $157M (Q4 2021) to $35M (Q4 2025)—67% erosion suggests ongoing losses or dilution.

⚠ No revenue, operating income, net income, or operating cash-flow data available; unable to assess profitability or cash generation.

⚠ Equity base has shrunk 78% in four years; continued equity depletion unsustainable without revenue inflection.

AI Insight: ADAG Ratio Trends

Adagene halved debt-to-equity leverage in H2 2025, dropping from 0.36 to 0.17, signaling improved capital discipline.

• D/E ratio fell sharply from 0.36 in Q4 2024 to 0.17 in Q2 2025 and remained at 0.17 in Q4 2025.

• Leverage has stabilized at 0.17 (TTM and Q4 2025), substantially below the 0.31–0.36 range observed in 2023–2024.

⚠ Profitability and return metrics (OpMargin, NPM, ROE, ROA, ROIC) remain unreported; cannot assess earnings quality or asset efficiency.

⚠ Sustained D/E reduction from 0.36 to 0.17 suggests debt paydown or equity raise—mechanism and sustainability require clarification.

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Available Research

13F Pro tracks comprehensive data for Adagene Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of ADAG

Jupiter Topco LLC
$28.1M6,666,666 sh
Siren, L.L.C.
$11.2M2,666,666 sh
DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C)
$11.2M2,666,666 sh
AMERIPRISE FINANCIAL INC
$7.2M1,716,711 sh
SC CHINA HOLDING Ltd
$5.6M1,343,364 sh
Squadron Capital Management LLC
$5.3M1,250,000 sh
Dauntless Investment Group, LLC
$2.3M537,230 sh
CITADEL ADVISORS LLC
$2.1M506,934 sh
Exome Asset Management LLC
$2.1M488,293 sh
Birchview Capital, LP
$1.0M240,000 sh

Fund	Value	Shares
Jupiter Topco LLC	$28.1M	6,666,666
Siren, L.L.C.	$11.2M	2,666,666
DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C)	$11.2M	2,666,666
AMERIPRISE FINANCIAL INC	$7.2M	1,716,711
SC CHINA HOLDING Ltd	$5.6M	1,343,364
Squadron Capital Management LLC	$5.3M	1,250,000
Dauntless Investment Group, LLC	$2.3M	537,230
CITADEL ADVISORS LLC	$2.1M	506,934
Exome Asset Management LLC	$2.1M	488,293
Birchview Capital, LP	$1.0M	240,000

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Is ADAG a good stock to buy?

13F Pro's AI-powered analysis of Adagene Inc. (ADAG) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for ADAG are available on the ADAG stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. ADAG is classified as a small company.

Which hedge funds own ADAG?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling ADAG. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Adagene Inc.'s investment landscape.