Boone Capital Management LLC purchased a new position in shares of Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 258,390 shares of the company's stock, valued at approximately $2,971,000. Adlai Nortye accounts for about 0.7% of Boone Capital Management LLC's portfolio, making the stock its 16th biggest holding. Boone Capital Management LLC owned about 0.65% of Adlai Nortye at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in ANL. Affinity Asset Advisors LLC purchased a new position in shares of Adlai Nortye in the first quarter worth about $1,140,000. ADAR1 Capital Management LLC acquired a new stake in shares of Adlai Nortye during the first quarter worth about $816,000. Renaissance Technologies LLC purchased a new stake in Adlai Nortye in the first quarter valued at approximately $457,000. Finally, SmartHarvest Portfolios LLC boosted its position in Adlai Nortye by 8.5% in the first quarter. SmartHarvest Portfolios LLC now owns 16,367 shares of the company's stock valued at $113,000 after buying an additional 1,279 shares during the last quarter. Hedge funds and other institutional investors own 35.21% of the company's stock.
Adlai Nortye Price Performance
ANL opened at $15.06 on Thursday. The firm has a fifty day moving average price of $12.00 and a 200 day moving average price of $11.16. Adlai Nortye Ltd. Sponsored ADR has a 1 year low of $0.88 and a 1 year high of $17.25. The company has a current ratio of 9.55, a quick ratio of 0.65 and a debt-to-equity ratio of 0.04.
Insiders Place Their Bets
In other Adlai Nortye news, CFO Xiaofeng Ye sold 6,000 shares of Adlai Nortye stock in a transaction on Monday, August 24th. The shares were sold at an average price of $13.98, for a total value of $83,880.00. Following the completion of the transaction, the chief financial officer owned 153,424 shares of the company's stock, valued at approximately $2,144,867.52. The trade was a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Wall Street Analysts Forecast Growth
ANL has been the topic of several research reports. Wall Street Zen upgraded shares of Adlai Nortye from a "hold" rating to a "buy" rating in a report on Saturday, August 22nd. Cantor Fitzgerald initiated coverage on shares of Adlai Nortye in a research note on Monday, June 22nd. They set an "overweight" rating for the company. JonesTrading started coverage on shares of Adlai Nortye in a report on Thursday, May 14th. They issued a "buy" rating and a $22.00 price objective on the stock. Weiss Ratings reiterated a "sell (e+)" rating on shares of Adlai Nortye in a research note on Tuesday, July 14th. Finally, Oppenheimer assumed coverage on shares of Adlai Nortye in a research report on Thursday, May 28th. They set an "outperform" rating and a $32.00 target price for the company. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Adlai Nortye currently has an average rating of "Moderate Buy" and an average target price of $24.25.
Check Out Our Latest Analysis on ANL
Adlai Nortye Company Profile
(
Free Report)
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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