Adlai Nortye (NASDAQ:ANL) Trading Down 7.3% - Time to Sell?

Key Points

• Shares fell 7.3% on Monday, trading as low as $12.61 and last at $13.7150 on volume of ~280,743 shares, about 53% below the stock's average daily volume.
• Analyst coverage is mixed—two Buys and one Sell—with a MarketBeat consensus rating of "Hold" and a consensus target price of $21.50; recent notes include HC Wainwright raising its target to $20 and Leerink initiating at $23.
• The stock trades well above its technicals (50-day MA $9.89, 200-day MA $5.19) and has meaningful institutional ownership (35.21%), with SmartHarvest slightly increasing its stake in Q1.

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL - Get Free Report)'s stock price dropped 7.3% on Monday . The company traded as low as $12.61 and last traded at $13.7150. Approximately 280,743 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 602,798 shares. The stock had previously closed at $14.80.

Analysts Set New Price Targets

ANL has been the subject of a number of analyst reports. Weiss Ratings reissued a "sell (e+)" rating on shares of Adlai Nortye in a research report on Wednesday, January 21st. Wall Street Zen raised shares of Adlai Nortye to a "hold" rating in a research report on Saturday, March 7th. Leerink Partners initiated 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 for the company. Finally, HC Wainwright upped their price objective on shares of Adlai Nortye from $16.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $21.50.

Adlai Nortye Stock Performance

The firm's 50-day moving average price is $9.89 and its 200 day moving average price is $5.19.

Hedge Funds Weigh In On Adlai Nortye

An institutional investor recently raised its position in Adlai Nortye stock. SmartHarvest Portfolios LLC boosted its holdings in Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL - Free Report) by 8.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,367 shares of the company's stock after acquiring an additional 1,279 shares during the period. SmartHarvest Portfolios LLC's holdings in Adlai Nortye were worth $113,000 at the end of the most recent quarter. 35.21% of the stock is owned by institutional investors and hedge funds.

Adlai Nortye Company Profile

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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