Adlai Nortye (NASDAQ:ANL) Shares Gap Down – Time to Sell?
by Scott Moore · The Cerbat GemAdlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL – Get Free Report)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $15.96, but opened at $15.45. Adlai Nortye shares last traded at $16.08, with a volume of 292,340 shares trading hands.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on ANL shares. HC Wainwright increased their price target on Adlai Nortye from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Monday. Wall Street Zen upgraded Adlai Nortye to a “hold” rating in a report on Saturday, March 7th. Leerink Partners started coverage on Adlai Nortye in a report on Friday, March 20th. They issued an “outperform” rating and a $23.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Adlai Nortye in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $21.50.
Read Our Latest Stock Analysis on ANL
Adlai Nortye Trading Up 4.3%
The company’s 50-day simple moving average is $9.54 and its 200 day simple moving average is $4.91.
Hedge Funds Weigh In On Adlai Nortye
A hedge fund recently raised its stake in Adlai Nortye stock. SmartHarvest Portfolios LLC raised its holdings in shares of Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL – Free Report) by 8.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,367 shares of the company’s stock after purchasing an additional 1,279 shares during the period. SmartHarvest Portfolios LLC’s holdings in Adlai Nortye were worth $113,000 at the end of the most recent quarter. 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.