Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) Short Interest Update

Key Points

• Short interest jumped 27.1% in March to 1,065,214 shares as of March 13, representing 2.9% of shares outstanding and a days-to-cover ratio of 5.5 days based on average daily volume.
• Analyst sentiment is mixed: two analysts rate ANL as Buy and one as Sell, with a consensus rating of Hold and an average price target of $19.50; notable notes include upgrades from HC Wainwright and an Outperform initiation with a $23 target from Leerink.
• Shares opened at $6.46, trade between a 50-day SMA of $7.77 and a 200-day SMA of $3.74, and have a 52-week range of $0.88–$12.09.

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL - Get Free Report) saw a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 1,065,214 shares, an increase of 27.1% from the February 26th total of 837,841 shares. Based on an average daily volume of 194,283 shares, the days-to-cover ratio is presently 5.5 days. Currently, 2.9% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ANL. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Adlai Nortye in a research report on Wednesday, January 21st. HC Wainwright upgraded Adlai Nortye from a "neutral" rating to a "buy" rating and set a $16.00 price target on the stock in a research note on Friday, February 13th. Wall Street Zen raised Adlai Nortye to a "hold" rating in a report on Saturday, March 7th. Finally, Leerink Partners initiated coverage on Adlai Nortye in a research report on Friday, March 20th. They issued an "outperform" rating and a $23.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Adlai Nortye presently has a consensus rating of "Hold" and an average target price of $19.50.

Adlai Nortye Stock Performance

Adlai Nortye stock opened at $6.46 on Monday. The business has a 50 day simple moving average of $7.77 and a 200 day simple moving average of $3.74. Adlai Nortye has a one year low of $0.88 and a one year high of $12.09.

About Adlai Nortye

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.

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