ADMA Stock Drops 6% After Culper Research Alleges Channel Stuffing

Culper alleged that Adma’s reported growth is a “fiction driven more than entirely by a de facto channel stuffing scheme and an undisclosed related party distributor."
In this photo illustration, the ADMA Biologics logo is seen displayed on a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images)
In this photo illustration, the ADMA Biologics logo is seen displayed on a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images)
Profile Image
Anan Ashraf·Stocktwits
Published Mar 24, 2026   |   2:00 PM EDT
Share
·
Add us onAdd us on Google

Shares of Adma Biologics Inc. (ADMA) dropped 6% on Tuesday after Culper Research said it has taken a short position in the company.

Culper alleged in a report that Adma’s reported growth is a “fiction driven more than entirely by a de facto channel stuffing scheme and an undisclosed related party distributor."

Absent channel stuffing, Culper estimates Adma's revenues declined 3% in 2025 as compared to the 20% growth reported. 

Get updates to this developing story directly on Stocktwits.

Follow on Google News
Read about our editorial guidelines and ethics policy