Jefferies Financial Group Upgrades Adlai Nortye (NASDAQ:ANL) to "Strong-Buy"

Key Points

• Jefferies upgraded Adlai Nortye to “strong buy,” while analysts maintain a consensus “Moderate Buy” rating and an average price target of $29.50.
• Adlai Nortye shares opened at $15.04, compared with a 52-week range of $0.88 to $17.25; the stock’s 50-day and 200-day moving averages were $14.39 and $12.35, respectively.
• Institutional ownership stands at 35.21%, with several hedge funds establishing new positions, while insiders sold 26,881 shares worth approximately $411,060 over the past quarter.

Adlai Nortye (NASDAQ:ANL - Get Free Report) was upgraded by Jefferies Financial Group to a "strong-buy" rating in a report issued on Monday, Zacks reports.

Other equities analysts also recently issued research reports about the company. Cantor Fitzgerald started coverage on Adlai Nortye in a research report on Monday, June 22nd. They set an "overweight" rating on the stock. Loop Capital set a $49.00 price objective on Adlai Nortye in a research report on Tuesday, September 8th. HC Wainwright reaffirmed a "buy" rating and set a $20.00 target price on shares of Adlai Nortye in a research note on Tuesday, September 8th. Wall Street Zen upgraded Adlai Nortye from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Adlai Nortye in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $29.50.

Adlai Nortye Stock Performance

NASDAQ:ANL opened at $15.04 on Monday. Adlai Nortye has a 52 week low of $0.88 and a 52 week high of $17.25. The stock's 50-day moving average price is $14.39 and its 200-day moving average price is $12.35.

Insider Activity at Adlai Nortye

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

Institutional Inflows and Outflows

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

Adlai Nortye Company Profile

Adlai Nortye Ltd. NASDAQ: ANL is a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for cancer and other serious diseases. The company's research and development programs are centered on immuno-oncology and targeted therapies intended to address unmet medical needs.

Adlai Nortye's pipeline has included buparlisib, an oral pan-PI3K inhibitor being studied in oncology, as well as AN0025, an investigational EP4 antagonist designed to affect pathways involved in tumor growth and immune response.

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