Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) has been given a consensus recommendation of “Moderate Buy” by the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $29.50.

A number of research analysts recently weighed in on the company. Loop Capital set a $49.00 price objective on Adlai Nortye in a research note on Tuesday, September 8th. Jefferies Financial Group assumed coverage on shares of Adlai Nortye in a report on Thursday, September 10th. They set a “buy” rating and a $31.00 price target for the company. Cantor Fitzgerald began coverage on Adlai Nortye in a research report on Monday, June 22nd. They issued an “overweight” rating on the stock. Wall Street Zen upgraded Adlai Nortye from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Adlai Nortye in a research report on Tuesday, September 8th.

Adlai Nortye Stock Performance

ANL opened at $15.09 on Wednesday. The stock has a 50-day moving average of $14.34 and a 200-day moving average of $12.30. Adlai Nortye has a 52-week low of $0.88 and a 52-week high of $17.25.

Insider Buying and Selling

In other news, Director Ping Ji sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $15.99, for a total value of $159,900.00. Following the completion of the sale, the director directly owned 121,453 shares of the company’s stock, valued at approximately $1,942,033.47. This represents a 7.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Xiaofeng Ye sold 6,000 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $13.98, for a total transaction of $83,880.00. Following the completion of the sale, the chief financial officer owned 153,424 shares in the company, valued at approximately $2,144,867.52. The trade was a 3.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 26,881 shares of company stock valued at $411,060.

Institutional Trading of Adlai Nortye

Hedge funds have recently bought and sold shares of the stock. SmartHarvest Portfolios LLC grew its position in Adlai Nortye by 8.5% in the 1st quarter. SmartHarvest Portfolios LLC now owns 16,367 shares of the company’s stock worth $113,000 after purchasing an additional 1,279 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Adlai Nortye in the 1st quarter worth approximately $457,000. Seven Fleet Capital Management LP acquired a new stake in shares of Adlai Nortye during the 2nd quarter worth approximately $1,302,000. ADAR1 Capital Management LLC acquired a new stake in shares of Adlai Nortye during the 1st quarter worth approximately $816,000. Finally, Affinity Asset Advisors LLC bought a new stake in shares of Adlai Nortye during the first quarter valued at approximately $1,140,000. 35.21% of the stock is owned by institutional investors.

Adlai Nortye Company Profile

Adlai Nortye Ltd. (NASDAQ: ANL) is a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for cancer and other serious diseases. The company’s research and development programs are centered on immuno-oncology and targeted therapies intended to address unmet medical needs.

Adlai Nortye’s pipeline has included buparlisib, an oral pan-PI3K inhibitor being studied in oncology, as well as AN0025, an investigational EP4 antagonist designed to affect pathways involved in tumor growth and immune response.