Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $15.57, but opened at $16.47. Adlai Nortye shares last traded at $16.5550, with a volume of 7,440 shares traded.
Analyst Upgrades and Downgrades
ANL has been the subject of several analyst reports. Loop Capital set a $49.00 price objective on shares of Adlai Nortye in a research note on Tuesday, September 8th. Cantor Fitzgerald initiated coverage on Adlai Nortye in a research note on Monday, June 22nd. They issued an "overweight" rating on the stock. Oppenheimer initiated coverage on Adlai Nortye in a report on Thursday, May 28th. They issued an "outperform" rating and a $32.00 target price for the company. Jefferies Financial Group began coverage on Adlai Nortye in a research report on Thursday, September 10th. They set a "buy" rating and a $31.00 price target for the company. Finally, Wall Street Zen lowered Adlai Nortye from a "buy" rating to a "hold" rating in a report on Saturday, September 12th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $29.50.
Read Our Latest Analysis on Adlai Nortye
Adlai Nortye Price Performance
The company has a current ratio of 9.55, a quick ratio of 0.65 and a debt-to-equity ratio of 0.04. The business's fifty day moving average is $13.78 and its 200-day moving average is $11.91.
Insider Buying and Selling at Adlai Nortye
In other news, CFO Xiaofeng Ye sold 6,000 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $13.98, for a total transaction of $83,880.00. Following the completion of the transaction, the chief financial officer directly owned 153,424 shares of the company's stock, valued at $2,144,867.52. This represents a 3.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Hedge Funds Weigh In On Adlai Nortye
Several institutional investors have recently bought and sold shares of ANL. SmartHarvest Portfolios LLC increased 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 worth $113,000 after buying an additional 1,279 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Adlai Nortye during the 1st quarter valued at $457,000. Seven Fleet Capital Management LP purchased a new position in shares of Adlai Nortye during the 2nd quarter valued at $1,302,000. ADAR1 Capital Management LLC bought a new position in shares of Adlai Nortye during the 1st quarter worth $816,000. Finally, Affinity Asset Advisors LLC bought a new position in shares of Adlai Nortye during the 1st quarter worth $1,140,000. Hedge funds and other institutional investors own 35.21% of the company's stock.
About Adlai Nortye
(
Get Free Report)
Adlai Nortye Ltd. is a clinical-stage biopharmaceutical company focused on developing innovative therapies for cancer and other serious diseases. The company's research and development activities center on oncology and immuno-oncology, with the goal of addressing unmet needs in the treatment of solid tumors.
Adlai Nortye's lead candidate is buparlisib, also known as AN2025, an oral pan-class I phosphoinositide 3-kinase (PI3K) inhibitor being developed for oncology indications, including head and neck cancer.
Further Reading
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