Adlai Nortye (NASDAQ:ANL) Trading 7.7% Higher – Still a Buy?

Shares of Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) shot up 7.7% on Friday . The company traded as high as $16.02 and last traded at $15.89. 194,152 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 386,535 shares. The stock had previously closed at $14.75.

Analyst Ratings Changes

ANL has been the subject of a number of recent research reports. JonesTrading started coverage on shares of Adlai Nortye in a research report on Thursday, May 14th. They issued a “buy” rating and a $22.00 target price for the company. Wall Street Zen raised shares of Adlai Nortye from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Cantor Fitzgerald started coverage on shares of Adlai Nortye in a report on Monday, June 22nd. They issued an “overweight” rating for the company. Oppenheimer started coverage on shares of Adlai Nortye in a research note on Thursday, May 28th. They issued an “outperform” rating and a $32.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Adlai Nortye in a research note on Tuesday, July 14th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.25.

Adlai Nortye Price Performance

The company’s 50 day simple moving average is $12.45 and its 200 day simple moving average is $11.35. The company has a debt-to-equity ratio of 0.04, a current ratio of 9.55 and a quick ratio of 0.65.

Insiders Place Their Bets

In other Adlai Nortye news, CFO Xiaofeng Ye sold 5,667 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $14.25, for a total value of $80,754.75. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Institutional Trading of Adlai Nortye

Large investors have recently made changes to their positions in the company. ADAR1 Capital Management LLC acquired a new position in Adlai Nortye during the 1st quarter worth approximately $816,000. Affinity Asset Advisors LLC acquired a new stake in shares of Adlai Nortye in the 1st quarter valued at $1,140,000. Boone Capital Management LLC acquired a new stake in shares of Adlai Nortye in the 2nd quarter valued at $2,971,000. Braidwell LP acquired a new position in shares of Adlai Nortye during the second quarter worth $9,145,000. Finally, Seven Fleet Capital Management LP acquired a new position in shares of Adlai Nortye during the second quarter worth $1,302,000. 35.21% of the stock is currently 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.