Adlai Nortye (NASDAQ:ANL) Sets New 1-Year High – Here’s Why

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $17.04 and last traded at $16.5090, with a volume of 366423 shares traded. The stock had previously closed at $16.01.

Analyst Ratings Changes

ANL has been the subject of a number of research reports. Wall Street Zen upgraded Adlai Nortye to a “hold” rating in a report on Saturday, March 7th. Leerink Partners initiated coverage on Adlai Nortye in a report on Friday, March 20th. They set an “outperform” rating and a $23.00 price objective for the company. HC Wainwright increased their price objective on Adlai Nortye from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Monday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Adlai Nortye in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $21.50.

Adlai Nortye Trading Up 1.1%

The firm has a 50-day moving average of $9.54 and a 200 day moving average of $4.91.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Adlai Nortye stock. SmartHarvest Portfolios LLC boosted its stake in shares of Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) by 8.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund 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 as of its most recent filing with the SEC. 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.