Adlai Nortye (NASDAQ:ANL) Cut to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Adlai Nortye (NASDAQ: ANL) from “buy” to “hold,” although the broader analyst consensus remains “Moderate Buy” with a $29.50 price target.
• Analyst views remain mixed, with price targets ranging from $20 at HC Wainwright to $49 at Loop Capital; Jefferies also initiated coverage with a “buy” rating and a $31 target.
• ANL opened at $15.21, near its 52-week high of $17.25, while hedge funds and institutional investors own 35.21% of the company. CFO Xiaofeng Ye sold shares to cover tax withholding obligations related to equity awards.

Adlai Nortye (NASDAQ:ANL - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

ANL has been the subject of several other reports. HC Wainwright reissued a "buy" rating and set a $20.00 price objective on shares of Adlai Nortye in a research note on Tuesday. Loop Capital set a $49.00 target price on Adlai Nortye in a research report on Tuesday. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Adlai Nortye in a report on Tuesday, July 14th. Cantor Fitzgerald began coverage on Adlai Nortye in a research report on Monday, June 22nd. They issued an "overweight" rating for the company. Finally, Jefferies Financial Group began coverage on Adlai Nortye in a research report on Thursday. They issued a "buy" rating and a $31.00 price target for the company. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.50.

Adlai Nortye Stock Performance

Adlai Nortye stock opened at $15.21 on Friday. Adlai Nortye has a 1 year low of $0.88 and a 1 year high of $17.25. The firm's 50 day moving average price is $13.01 and its two-hundred day moving average price is $11.56. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.65 and a current ratio of 9.55.

Insider Activity at Adlai Nortye

In other news, CFO Xiaofeng Ye sold 5,667 shares of the firm's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $14.25, for a total value of $80,754.75. Following the completion of the sale, the chief financial officer owned 147,757 shares of the company's stock, valued at $2,105,537.25. This trade represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Institutional Investors Weigh In On Adlai Nortye

Several hedge funds have recently bought and sold shares of the business. Braidwell LP purchased a new position in Adlai Nortye during the 2nd quarter valued at about $9,145,000. Boone Capital Management LLC purchased a new stake in shares of Adlai Nortye in the second quarter worth approximately $2,971,000. Affinity Asset Advisors LLC purchased a new stake in shares of Adlai Nortye in the first quarter worth approximately $1,140,000. ADAR1 Capital Management LLC acquired a new stake in shares of Adlai Nortye during the first quarter worth approximately $816,000. Finally, Seven Fleet Capital Management LP acquired a new stake in shares of Adlai Nortye during the second quarter worth approximately $1,302,000. 35.21% of the stock is owned by hedge funds and other institutional investors.

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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