Adlai Nortye (NASDAQ:ANL) Trading Down 11.7% - Here's What Happened

Key Points

• Adlai Nortye (NASDAQ:ANL) shares fell 11.7% on Wednesday, trading as low as $7.20 and last at $13.84, with volume of 967,940 shares—up about 62% from the average session volume.
• Analyst coverage is mixed—two Buy ratings and one Sell—resulting in a MarketBeat consensus of Hold and an average price target of $19.50.
• Adlai Nortye is a China-based specialty chemical maker focused on high-purity L-amino acids and derivatives for animal feed, personal care, pharmaceutical and industrial markets; its 50-day and 200-day moving averages are $9.03 and $4.44, respectively.

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL - Get Free Report)'s stock price fell 11.7% on Wednesday . The stock traded as low as $7.20 and last traded at $13.8410. 967,940 shares were traded during mid-day trading, an increase of 62% from the average session volume of 596,093 shares. The stock had previously closed at $15.68.

Analyst Upgrades and Downgrades

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

Adlai Nortye Price Performance

The firm's 50-day simple moving average is $9.03 and its 200 day simple moving average is $4.44.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.