Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) Short Interest Up 27.1% in March

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) was the recipient of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 1,065,214 shares, an increase of 27.1% from the February 26th total of 837,841 shares. Based on an average trading volume of 194,283 shares, the short-interest ratio is presently 5.5 days. Currently, 2.9% of the shares of the company are short sold.

Adlai Nortye Stock Up 4.7%

ANL opened at $6.92 on Wednesday. Adlai Nortye has a fifty-two week low of $0.88 and a fifty-two week high of $12.09. The company has a fifty day moving average of $7.97 and a 200 day moving average of $3.81.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. HC Wainwright raised Adlai Nortye from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Friday, February 13th. Leerink Partners assumed coverage on Adlai Nortye in a report on Friday, March 20th. They set an “outperform” rating and a $23.00 price target for the company. Wall Street Zen upgraded Adlai Nortye to a “hold” rating in a research report on Saturday, March 7th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Adlai Nortye in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.50.

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.