Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) has earned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $29.50.

Several research analysts have issued reports on the company. Wall Street Zen lowered Adlai Nortye from a “buy” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group upgraded shares of Adlai Nortye to a “strong-buy” rating in a report on Monday, October 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Adlai Nortye in a research report on Monday, October 12th. Loop Capital set a $49.00 target price on Adlai Nortye in a research report on Tuesday, September 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Adlai Nortye in a research report on Tuesday, September 8th.

Insider Transactions at Adlai Nortye

In related news, Director Ping Ji sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $15.99, for a total value of $159,900.00. Following the completion of the transaction, the director directly owned 121,453 shares of the company’s stock, valued at $1,942,033.47. This trade represents a 7.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Xiaofeng Ye sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $13.98, for a total transaction of $83,880.00. Following the transaction, the chief financial officer owned 153,424 shares in the company, valued at $2,144,867.52. The trade was a 3.76% decrease in their position. 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. Insiders sold 26,881 shares of company stock valued at $411,060 over the last quarter.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. SmartHarvest Portfolios LLC raised its holdings in shares of Adlai Nortye by 8.5% during 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. China Universal Asset Management Co. Ltd. purchased a new position in Adlai Nortye during the 3rd quarter valued at about $25,000. Renaissance Technologies LLC acquired a new stake in Adlai Nortye in the first quarter valued at approximately $457,000. Seven Fleet Capital Management LP acquired a new position in shares of Adlai Nortye during the second quarter worth $1,302,000. Finally, ADAR1 Capital Management LLC purchased a new stake in Adlai Nortye in the first quarter valued at $816,000. 35.21% of the stock is currently owned by hedge funds and other institutional investors.

Adlai Nortye Trading Down 7.1%

ANL stock opened at $9.55 on Friday. The firm’s fifty day simple moving average is $13.82 and its two-hundred day simple moving average is $11.26. Adlai Nortye has a twelve month low of $0.88 and a twelve month high of $17.25.

About Adlai Nortye

Adlai Nortye (NASDAQ: ANL) is a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for cancer and other serious diseases. The company’s research is centered on treatments designed to stimulate or enhance the immune system’s ability to identify and attack cancer cells.

Adlai Nortye’s pipeline includes buparlisib, an oral pan-class I phosphoinositide 3-kinase inhibitor being investigated in oncology. The company has evaluated buparlisib in combination with immunotherapy for patients with recurrent or metastatic head and neck squamous cell carcinoma.