Adlai Nortye (NASDAQ:ANL) Shares Down 5.3% Following Insider Selling

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) dropped 5.3% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $14.30 and last traded at $14.2640. 84,559 shares were traded during mid-day trading, a decline of 79% from the average session volume of 395,832 shares. The stock had previously closed at $15.06.

Specifically, CFO Xiaofeng Ye sold 5,667 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $14.25, for a total transaction of $80,754.75. Following the sale, the chief financial officer directly owned 147,757 shares in the company, valued at approximately $2,105,537.25. The trade was a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Xiaofeng Ye sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $13.98, for a total transaction of $83,880.00. Following the transaction, the chief financial officer directly owned 153,424 shares of the company’s stock, valued at approximately $2,144,867.52. This trade represents a 3.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Analysts Set New Price Targets

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

Adlai Nortye Trading Down 6.1%

The firm’s 50-day moving average price is $12.00 and its two-hundred day moving average price is $11.16. The company has a quick ratio of 0.65, a current ratio of 9.55 and a debt-to-equity ratio of 0.04.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Affinity Asset Advisors LLC purchased a new stake in shares of Adlai Nortye in the first quarter worth approximately $1,140,000. ADAR1 Capital Management LLC acquired a new position in shares of Adlai Nortye in the first quarter worth $816,000. Boone Capital Management LLC purchased a new stake in shares of Adlai Nortye during the second quarter worth $2,971,000. Seven Fleet Capital Management LP acquired a new stake in Adlai Nortye during the second quarter valued at $1,302,000. Finally, Renaissance Technologies LLC purchased a new position in Adlai Nortye in the first quarter valued at about $457,000. Hedge funds and other institutional investors own 35.21% of the company’s stock.

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.