Adlai Nortye (NASDAQ:ANL) Stock Price Down 4.1% - What's Next?

Key Points

• Adlai Nortye shares fell 4.1% to about $10.58, with trading volume down 95% from its average daily level.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $29.50, though one analyst maintains a sell rating.
• Insiders sold 26,881 shares worth approximately $411,060 over the last quarter, while institutional investors and hedge funds own 35.21% of the company.

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL - Get Free Report)'s share price dropped 4.1% on Monday. The stock traded as low as $10.58 and last traded at $10.5790. Approximately 19,935 shares traded hands during trading, a decline of 95% from the average daily volume of 368,481 shares. The stock had previously closed at $11.03.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ANL shares. Jefferies Financial Group raised shares of Adlai Nortye to a "strong-buy" rating in a report on Monday, October 5th. 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. Wall Street Zen upgraded shares of Adlai Nortye from a "hold" rating to a "buy" rating in a research report on Saturday, October 3rd. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Adlai Nortye in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $29.50.

Adlai Nortye Trading Up 1.2%

The company has a 50 day moving average of $14.44 and a two-hundred day moving average of $12.75.

Insider Activity

In other Adlai Nortye news, CFO Xiaofeng Ye sold 5,667 shares of the company's stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $14.25, for a total value of $80,754.75. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 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 transaction of $159,900.00. Following the transaction, the director owned 121,453 shares of the company's stock, valued at approximately $1,942,033.47. This trade represents a 7.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 26,881 shares of company stock worth $411,060.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Braidwell LP bought a new position in shares of Adlai Nortye in the second quarter valued at $9,145,000. Boone Capital Management LLC bought a new stake in shares of Adlai Nortye during the 2nd quarter worth $2,971,000. Seven Fleet Capital Management LP bought a new stake in shares of Adlai Nortye during the 2nd quarter worth $1,302,000. Affinity Asset Advisors LLC acquired a new position in shares of Adlai Nortye in the 1st quarter worth $1,140,000. Finally, ADAR1 Capital Management LLC acquired a new position in shares of Adlai Nortye in the 1st quarter worth $816,000. Institutional investors and hedge funds 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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