Adlai Nortye (NASDAQ:ANL) Stock Price Up 3.4% - What's Next?

Key Points

• Adlai Nortye shares rose 3.4% to about $14.95 in midday trading, though volume was down 92% from the average session.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and a $29.50 target price, although ratings range from Strong Buy to Sell.
• Institutional ownership stands at 35.21% after several funds initiated positions, while insiders have sold 26,881 shares worth approximately $411,060 over the past 90 days.

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL - Get Free Report)'s share price shot up 3.4% during mid-day trading on Wednesday. The company traded as high as $14.97 and last traded at $14.9450. Approximately 27,484 shares were traded during mid-day trading, a decline of 92% from the average session volume of 361,311 shares. The stock had previously closed at $14.46.

Analyst Upgrades and Downgrades

ANL has been the subject of several research reports. Loop Capital set a $49.00 price target on shares of Adlai Nortye in a report on Tuesday, September 8th. Cantor Fitzgerald started coverage on shares of Adlai Nortye in a report on Monday, June 22nd. They issued an "overweight" rating on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of Adlai Nortye in a research note on Tuesday, July 14th. Wall Street Zen upgraded Adlai Nortye from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, HC Wainwright reissued a "buy" rating and issued a $20.00 price target on shares of Adlai Nortye in a report on Tuesday, September 8th. 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 company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.50.

Adlai Nortye Price Performance

The company's 50-day moving average is $14.43 and its two-hundred day moving average is $12.40.

Insider Buying and Selling

In other Adlai Nortye news, Director Ping Ji sold 10,000 shares of Adlai Nortye stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $15.99, for a total transaction of $159,900.00. Following the sale, the director owned 121,453 shares of the company's stock, valued at $1,942,033.47. The trade was a 7.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Xiaofeng Ye sold 5,667 shares of the business's stock in a transaction 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 of the company's stock, valued at $2,105,537.25. This trade represents a 3.69% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 26,881 shares of company stock worth $411,060.

Institutional Investors Weigh In On Adlai Nortye

A number of hedge funds and other institutional investors have recently modified their holdings of ANL. Braidwell LP acquired a new stake in Adlai Nortye in the second quarter worth about $9,145,000. Boone Capital Management LLC acquired a new position in Adlai Nortye during the 2nd quarter valued at about $2,971,000. Seven Fleet Capital Management LP bought a new stake in shares of Adlai Nortye during the 2nd quarter worth about $1,302,000. Affinity Asset Advisors LLC acquired a new stake in shares of Adlai Nortye in the 1st quarter worth approximately $1,140,000. Finally, ADAR1 Capital Management LLC bought a new position in shares of Adlai Nortye in the first quarter valued at approximately $816,000. 35.21% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.