Adlai Nortye (NASDAQ:ANL) Trading Up 3.9% – What’s Next?

Shares of Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANLGet Free Report) were up 3.9% during trading on Thursday . The company traded as high as $15.56 and last traded at $15.26. 11,246 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 383,925 shares. The stock had previously closed at $14.69.

Wall Street Analyst Weigh In

ANL has been the topic of a number of research reports. Wall Street Zen upgraded Adlai Nortye from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Adlai Nortye in a research report on Tuesday. Oppenheimer started coverage on Adlai Nortye in a research note on Thursday, May 28th. They set an “outperform” rating and a $32.00 price objective for the company. JonesTrading started coverage on Adlai Nortye in a report on Thursday, May 14th. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Cantor Fitzgerald began coverage on Adlai Nortye in a research report on Monday, June 22nd. They set an “overweight” rating on the stock. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Adlai Nortye has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

View Our Latest Analysis on ANL

Adlai Nortye Trading Up 4.6%

The stock’s fifty day moving average price is $12.78 and its 200-day moving average price is $11.50. The company has a current ratio of 9.55, a quick ratio of 0.65 and a debt-to-equity ratio of 0.04.

Insiders Place Their Bets

In other Adlai Nortye news, CFO Xiaofeng Ye sold 6,000 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $13.98, for a total transaction of $83,880.00. Following the sale, the chief financial officer directly owned 153,424 shares of the company’s stock, valued at $2,144,867.52. The trade was a 3.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Institutional Trading of Adlai Nortye

Several hedge funds and other institutional investors have recently modified their holdings of ANL. Braidwell LP acquired a new position in Adlai Nortye during the second quarter valued at $9,145,000. Boone Capital Management LLC purchased a new position in Adlai Nortye during the 2nd quarter valued at about $2,971,000. Affinity Asset Advisors LLC acquired a new position in shares of Adlai Nortye in the 1st quarter valued at about $1,140,000. ADAR1 Capital Management LLC purchased a new stake in shares of Adlai Nortye in the first quarter worth approximately $816,000. Finally, Seven Fleet Capital Management LP purchased a new stake in shares of Adlai Nortye in the second quarter worth approximately $1,302,000. Institutional investors and hedge funds own 35.21% of the company’s stock.

About Adlai Nortye

(Get Free Report)

Adlai Nortye Inc (NASDAQ: ANL) is a specialty chemical manufacturer headquartered in China’s Jiangsu Province. The company focuses on the research, development, production and sale of fine chemicals, with a primary emphasis on amino acids and their derivatives.

Adlai Nortye’s product portfolio includes betaine compounds, a range of high-purity L-amino acids such as L-methionine, L-threonine and glycine, as well as various chemical intermediates. These offerings serve multiple end markets, including animal feed and nutrition, personal care and cosmetic formulations, pharmaceutical ingredients and industrial chemical processes.

The company operates multiple production facilities alongside an in-house research and development center dedicated to process innovation and quality control.

Further Reading

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