Boone Capital Management LLC Makes New Investment in Adlai Nortye Ltd. Sponsored ADR $ANL

Boone Capital Management LLC acquired a new stake in Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 258,390 shares of the company’s stock, valued at approximately $2,971,000. Adlai Nortye accounts for 0.7% of Boone Capital Management LLC’s holdings, making the stock its 16th biggest position.

Several other large investors have also made changes to their positions in ANL. SmartHarvest Portfolios LLC lifted its position in shares of Adlai Nortye by 8.5% during the 1st quarter. SmartHarvest Portfolios LLC now owns 16,367 shares of the company’s stock valued at $113,000 after buying an additional 1,279 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Adlai Nortye in the 1st quarter valued at $457,000. ADAR1 Capital Management LLC purchased a new stake in Adlai Nortye in the 1st quarter worth $816,000. Finally, Affinity Asset Advisors LLC purchased a new stake in Adlai Nortye in the 1st quarter worth $1,140,000. 35.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on ANL. Weiss Ratings restated a “sell (e+)” rating on shares of Adlai Nortye in a research report on Tuesday, July 14th. Oppenheimer started coverage on shares of Adlai Nortye in a research report on Thursday, May 28th. They issued an “outperform” rating and a $32.00 target price on the stock. Wall Street Zen raised shares of Adlai Nortye from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. JonesTrading initiated coverage on shares of Adlai Nortye in a research report on Thursday, May 14th. They set a “buy” rating and a $22.00 price target for the company. Finally, Cantor Fitzgerald assumed coverage on shares of Adlai Nortye in a research note on Monday, June 22nd. They issued an “overweight” rating on the stock. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.25.

Adlai Nortye Trading Up 9.6%

Shares of ANL opened at $15.06 on Thursday. Adlai Nortye Ltd. Sponsored ADR has a 12-month low of $0.88 and a 12-month high of $17.25. The firm has a 50-day moving average price of $12.00 and a 200 day moving average price of $11.16. The company has a debt-to-equity ratio of 0.04, a current ratio of 9.55 and a quick ratio of 0.65.

Insiders Place Their Bets

In other Adlai Nortye news, CFO Xiaofeng Ye sold 6,000 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $13.98, for a total value of $83,880.00. Following the transaction, the chief financial officer directly owned 153,424 shares in the company, valued at $2,144,867.52. The trade was a 3.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Adlai Nortye 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.