Adlai Nortye (NASDAQ:ANL) Shares Gap Up – What’s Next?

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL)’s share price gapped up prior to trading on Friday. The stock had previously closed at $10.88, but opened at $11.89. Adlai Nortye shares last traded at $11.4380, with a volume of 7,265 shares changing hands.

Wall Street Analyst Weigh In

ANL has been the topic of several research analyst reports. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Adlai Nortye in a research note on Tuesday, September 8th. Jefferies Financial Group raised Adlai Nortye to a “strong-buy” rating in a research report on Monday, October 5th. Cantor Fitzgerald assumed coverage on shares of Adlai Nortye in a report on Monday, June 22nd. They set an “overweight” rating on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Adlai Nortye in a research report on Monday. Finally, Loop Capital set a $49.00 price target on Adlai Nortye in a research note on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $29.50.

Adlai Nortye Trading Down 5.1%

The stock’s fifty day moving average price is $14.49 and its 200 day moving average price is $12.72.

Insider Activity

In other news, CFO Xiaofeng Ye sold 5,667 shares of Adlai Nortye stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $14.25, for a total transaction of $80,754.75. Following the sale, the chief financial officer owned 147,757 shares in the company, valued at $2,105,537.25. This trade represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Ping Ji sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $15.99, for a total value of $159,900.00. Following the completion of the transaction, the director directly owned 121,453 shares in the company, valued at $1,942,033.47. This trade represents a 7.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,881 shares of company stock valued at $411,060 in the last quarter.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Seven Fleet Capital Management LP acquired a new position in shares of Adlai Nortye during the 2nd quarter worth about $1,302,000. Braidwell LP purchased a new stake in shares of Adlai Nortye during the 2nd quarter valued at approximately $9,145,000. Boone Capital Management LLC acquired a new position in shares of Adlai Nortye in the 2nd quarter valued at $2,971,000. ADAR1 Capital Management LLC acquired a new stake in Adlai Nortye in the 1st quarter valued at approximately $816,000. Finally, Affinity Asset Advisors LLC purchased a new stake in Adlai Nortye during the first quarter worth about $1,140,000. Institutional investors and hedge funds own 35.21% of the company’s stock.

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.