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

Key Points

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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 report issued on Saturday, Wall Street Zen reports.

Other equities analysts have also recently issued research reports about the stock. HC Wainwright reissued a "buy" rating and set a $20.00 target price on shares of Adlai Nortye in a research note on Tuesday, September 8th. Loop Capital set a $49.00 price target on shares of Adlai Nortye in a research report on Tuesday, September 8th. Jefferies Financial Group raised shares of Adlai Nortye to a "strong-buy" rating in a research note on Monday, October 5th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Adlai Nortye in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Adlai Nortye presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.50.

Adlai Nortye Stock Performance

Shares of NASDAQ ANL opened at $9.55 on Friday. Adlai Nortye has a fifty-two week low of $0.88 and a fifty-two week high of $17.25. The firm's 50-day simple moving average is $13.82 and its 200 day simple moving average is $11.26.

Insider Buying and Selling at Adlai Nortye

In other news, Director Ping Ji sold 10,000 shares of the company's stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $15.99, for a total transaction of $159,900.00. Following the completion of the sale, the director directly owned 121,453 shares of the company's stock, valued at $1,942,033.47. This represents a 7.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Xiaofeng Ye sold 5,667 shares of the company's stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $14.25, for a total value of $80,754.75. Following the sale, the chief financial officer directly owned 147,757 shares of the company's stock, valued at approximately $2,105,537.25. This represents a 3.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 26,881 shares of company stock valued at $411,060.

Institutional Trading of Adlai Nortye

Institutional investors and hedge funds have recently bought and sold shares of the stock. 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 acquired a new stake in shares of Adlai Nortye during 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 purchased a new position in Adlai Nortye during the second quarter valued at approximately $1,302,000. Institutional investors and hedge funds own 35.21% of the company's stock.

About Adlai Nortye

Adlai Nortye NASDAQ: ANL is a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for cancer and other serious diseases. The company's research is centered on treatments designed to stimulate or enhance the immune system's ability to identify and attack cancer cells.

Adlai Nortye's pipeline includes buparlisib, an oral pan-class I phosphoinositide 3-kinase inhibitor being investigated in oncology. The company has evaluated buparlisib in combination with immunotherapy for patients with recurrent or metastatic head and neck squamous cell carcinoma.

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