Short Interest in Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) Grows 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 large increase in short interest during the month of August. As of August 15th, there was short interest totaling 9,900 shares, an increase of 106.3% from the July 31st total of 4,800 shares. Based on an average daily trading volume, of 9,700 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily trading volume, of 9,700 shares, the days-to-cover ratio is currently 1.0 days.

Analyst Upgrades and Downgrades

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

Adlai Nortye Stock Performance

Shares of ANL stock traded up $0.05 during mid-day trading on Wednesday, reaching $1.77. The stock had a trading volume of 5,580 shares, compared to its average volume of 10,573. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.02. Adlai Nortye has a 12-month low of $1.10 and a 12-month high of $3.89. The business has a 50-day simple moving average of $1.60 and a 200 day simple moving average of $1.82.

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.