Wall Street Zen Upgrades Adlai Nortye (NASDAQ:ANL) to "Buy"

Key Points

• Wall Street Zen upgraded Adlai Nortye to “Buy” from “Hold.” Overall analyst sentiment is “Moderate Buy,” with six Buy ratings and one Sell rating, and a consensus price target of $29.50.
• Adlai Nortye shares opened at $15.09, compared with a 12-month range of $0.88 to $17.25. The stock’s 50-day and 200-day moving averages were $14.34 and $12.27, respectively.
• Institutional investors own 35.21% of the company, with several firms—including Braidwell LP and Boone Capital Management—recently establishing new positions. Insiders sold 26,881 shares worth approximately $411,060 over the past three months.

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

A number of other research analysts have also commented on the company. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Adlai Nortye in a research report on Tuesday, July 14th. HC Wainwright reiterated a "buy" rating and issued a $20.00 price objective on shares of Adlai Nortye in a research report on Tuesday, September 8th. Jefferies Financial Group started coverage on Adlai Nortye in a research note on Thursday, September 10th. They set a "buy" rating and a $31.00 target price on the stock. Loop Capital set a $49.00 target price on Adlai Nortye in a report on Tuesday, September 8th. Finally, Cantor Fitzgerald initiated coverage on Adlai Nortye in a research note on Monday, June 22nd. They issued an "overweight" rating for the company. Six investment analysts have rated the stock with 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 price target of $29.50.

Adlai Nortye Price Performance

Shares of Adlai Nortye stock opened at $15.09 on Friday. The company's fifty day simple moving average is $14.34 and its two-hundred day simple moving average is $12.27. Adlai Nortye has a 12-month low of $0.88 and a 12-month high of $17.25.

Insider Transactions at Adlai Nortye

In other Adlai Nortye news, Director Ping Ji sold 10,000 shares of the firm's stock in a transaction dated Wednesday, September 30th. The shares were 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 trade represents a 7.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Xiaofeng Ye sold 6,000 shares of the firm's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $13.98, for a total transaction of $83,880.00. Following the completion of the sale, the chief financial officer owned 153,424 shares of the company's stock, valued at $2,144,867.52. This trade represents a 3.76% 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 sold 26,881 shares of company stock valued at $411,060.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Braidwell LP bought a new stake in shares of Adlai Nortye during the second quarter valued at approximately $9,145,000. Boone Capital Management LLC purchased a new stake in Adlai Nortye in the second quarter worth $2,971,000. Affinity Asset Advisors LLC bought a new position in Adlai Nortye in the first quarter worth $1,140,000. ADAR1 Capital Management LLC bought a new position in Adlai Nortye in the first quarter worth $816,000. Finally, Seven Fleet Capital Management LP purchased a new position in Adlai Nortye during the second quarter valued at $1,302,000. Institutional investors own 35.21% of the company's stock.

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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