Short Interest in Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) Grows By 27.1%

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) was the target of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 1,065,214 shares, an increase of 27.1% from the February 26th total of 837,841 shares. Based on an average trading volume of 194,283 shares, the days-to-cover ratio is presently 5.5 days. Currently, 2.9% of the company’s shares are sold short.

Adlai Nortye Price Performance

Shares of NASDAQ:ANL opened at $6.61 on Tuesday. Adlai Nortye has a 52-week low of $0.88 and a 52-week high of $12.09. The stock has a 50 day moving average price of $7.86 and a 200-day moving average price of $3.78.

Analyst Ratings Changes

Several analysts have weighed in on the company. HC Wainwright upgraded Adlai Nortye from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Friday, February 13th. Wall Street Zen raised shares of Adlai Nortye to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Adlai Nortye in a report on Wednesday, January 21st. Finally, Leerink Partners began coverage on shares of Adlai Nortye in a research report on Friday, March 20th. They set an “outperform” rating and a $23.00 price target for the company. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $19.50.

Adlai Nortye Company Profile

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.