Short Interest in Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) Declines By 65.7%

Key Points

• Adlai Nortye Ltd. experienced a significant drop in short interest, with shares sold short decreasing by 65.7% from 9,900 to 3,400 in August.
• The company's stock price opened at $1.80, with a 52-week range between $1.10 and $3.89.
• HC Wainwright downgraded Adlai Nortye's stock from a "buy" to a "neutral" rating, with an average price target of $9.00 currently reflecting a "Hold" consensus.

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL - Get Free Report) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 3,400 shares, a decline of 65.7% from the August 15th total of 9,900 shares. Based on an average trading volume of 8,000 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.0% of the company's stock are sold short. Approximately 0.0% of the company's stock are sold short. Based on an average trading volume of 8,000 shares, the days-to-cover ratio is currently 0.4 days.

Wall Street Analyst Weigh In

Separately, HC Wainwright downgraded shares of Adlai Nortye from a "buy" rating to a "neutral" rating in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Adlai Nortye presently has an average rating of "Hold" and a consensus target price of $9.00.

Adlai Nortye Stock Down 0.8%

ANL stock traded down $0.01 during midday trading on Wednesday, reaching $1.78. 26,312 shares of the company were exchanged, compared to its average volume of 7,657. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.02. Adlai Nortye has a 1-year low of $1.10 and a 1-year high of $3.89. The stock's 50-day simple moving average is $1.63 and its 200 day simple moving average is $1.80.

About Adlai Nortye

Adlai Nortye Ltd., a clinical-stage biotechnology company, focuses on the discovery and development of cancer therapies in the United States and Mainland China. Its lead product is AN2025, a pan-phosphoinositide 3-kinase inhibitor, which is in Phase III clinical trial for the treatment of recurrent or metastatic head and neck squamous cell carcinomas.