Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) Sees Large Decrease in Short Interest

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) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 3,400 shares, a drop of 65.7% from the August 15th total of 9,900 shares. Currently, 0.0% of the company's shares are sold short. Based on an average trading volume of 8,000 shares, the short-interest ratio is currently 0.4 days. Based on an average trading volume of 8,000 shares, the short-interest ratio is currently 0.4 days. Currently, 0.0% of the company's shares are sold short.

Adlai Nortye Stock Performance

NASDAQ:ANL opened at $1.80 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.02. The business's 50-day simple moving average is $1.61 and its 200-day simple moving average is $1.81. Adlai Nortye has a fifty-two week low of $1.10 and a fifty-two week high of $3.89.

Analyst Ratings Changes

Separately, HC Wainwright cut shares of Adlai Nortye from a "buy" rating to a "neutral" rating in a report on Monday, June 2nd. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $9.00.

Adlai Nortye Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.