Adlai Nortye (NASDAQ:ANL) Stock Falls 4.1% – Should You Sell?

by · The Markets Daily

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL – Get Free Report)’s share price traded down 4.1% during mid-day trading on Monday. The company traded as low as $10.58 and last traded at $10.5790. 19,935 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 368,481 shares. The stock had previously closed at $11.03.

Analyst Ratings Changes

A number of brokerages have commented on ANL. Wall Street Zen raised shares of Adlai Nortye from a “hold” rating to a “buy” rating in a report on Saturday, October 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Adlai Nortye in a research report on Monday, October 12th. Loop Capital set a $49.00 price target on shares of Adlai Nortye in a research note on Tuesday, September 8th. 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. Finally, Jefferies Financial Group raised shares of Adlai Nortye to a “strong-buy” rating in a report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Adlai Nortye has an average rating of “Moderate Buy” and an average target price of $29.50.

Check Out Our Latest Analysis on ANL

Adlai Nortye Stock Performance

The firm has a 50 day moving average price of $14.34 and a 200-day moving average price of $12.80.

Insider Transactions at Adlai Nortye

In other Adlai Nortye news, CFO Xiaofeng Ye sold 5,667 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $14.25, for a total transaction of $80,754.75. Following the completion of the sale, the chief financial officer directly owned 147,757 shares of the company’s stock, valued at approximately $2,105,537.25. The trade was a 3.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 dated Wednesday, September 30th. The shares were sold at an average price of $15.99, for a total transaction of $159,900.00. Following the transaction, the director owned 121,453 shares in the company, valued at approximately $1,942,033.47. The trade was a 7.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 26,881 shares of company stock valued at $411,060.

Institutional Investors Weigh In On Adlai Nortye

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

Adlai Nortye Company Profile

(Get Free Report)

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.

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