Short Interest in Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) Increases By 106.3%

Key Points

• Short interest in Adlai Nortye Ltd. increased by 106.3% in August, growing from 4,800 shares to 9,900 shares.
• The company's stock is currently trading at $1.76, down 1.1%, with a 52-week range between $1.10 and $3.89.
• HC Wainwright downgraded Adlai Nortye from a "buy" to a "neutral" rating, with a consensus rating of "Hold" and an average price target of $9.00.

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL - Get Free Report) saw a significant growth in short interest during the month of August. As of August 15th, there was short interest totaling 9,900 shares, agrowthof106.3% from the July 31st total of 4,800 shares. Based on an average daily volume of 9,700 shares, the short-interest ratio is presently 1.0 days. Based on an average daily volume of 9,700 shares, the short-interest ratio is presently 1.0 days.

Adlai Nortye Trading Down 1.1%

Shares of Adlai Nortye stock opened at $1.76 on Friday. The business's fifty day simple moving average is $1.59 and its 200-day simple moving average is $1.83. Adlai Nortye has a 52 week low of $1.10 and a 52 week high of $3.89. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.02.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright downgraded Adlai Nortye from a "buy" rating to a "neutral" rating in a report on Monday, June 2nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Adlai Nortye presently has a consensus rating of "Hold" and an average price target of $9.00.

About Adlai Nortye

Adlai Nortye Ltd., a clinical-stage biotechnology company, focuses on the discovery and development of cancer therapies in the United States and Mainland China. Its lead product is AN2025, a pan-phosphoinositide 3-kinase inhibitor, which is in Phase III clinical trial for the treatment of recurrent or metastatic head and neck squamous cell carcinomas.

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