Adlai Nortye (NASDAQ:ANL) Shares Down 7.3% – What’s Next?

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL)’s stock price fell 7.3% on Monday . The stock traded as low as $12.61 and last traded at $13.7150. 280,743 shares traded hands during trading, a decline of 53% from the average session volume of 602,798 shares. The stock had previously closed at $14.80.

Analyst Ratings Changes

Several research firms have recently commented on ANL. Leerink Partners started coverage on Adlai Nortye in a report on Friday, March 20th. They issued an “outperform” rating and a $23.00 price objective for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Adlai Nortye in a report on Wednesday, January 21st. HC Wainwright upped their price target on shares of Adlai Nortye from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Finally, Wall Street Zen raised shares of Adlai Nortye to a “hold” rating in a research report on Saturday, March 7th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $21.50.

Adlai Nortye Price Performance

The stock has a 50-day moving average price of $10.11 and a 200-day moving average price of $5.41.

Hedge Funds Weigh In On Adlai Nortye

A hedge fund recently raised its stake in Adlai Nortye stock. SmartHarvest Portfolios LLC grew its stake in Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) by 8.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,367 shares of the company’s stock after purchasing an additional 1,279 shares during the quarter. SmartHarvest Portfolios LLC’s holdings in Adlai Nortye were worth $113,000 as of its most recent SEC filing. 35.21% of the stock is owned by hedge funds and other institutional investors.

About Adlai Nortye

Adlai Nortye Inc (NASDAQ: ANL) is a specialty chemical manufacturer headquartered in China’s Jiangsu Province. The company focuses on the research, development, production and sale of fine chemicals, with a primary emphasis on amino acids and their derivatives.

Adlai Nortye’s product portfolio includes betaine compounds, a range of high-purity L-amino acids such as L-methionine, L-threonine and glycine, as well as various chemical intermediates. These offerings serve multiple end markets, including animal feed and nutrition, personal care and cosmetic formulations, pharmaceutical ingredients and industrial chemical processes.

The company operates multiple production facilities alongside an in-house research and development center dedicated to process innovation and quality control.