Adlai Nortye (NASDAQ:ANL) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Adlai Nortye (NASDAQ:ANL) from a buy rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

A number of other equities analysts also recently issued reports on the company. Jefferies Financial Group began coverage on Adlai Nortye in a research report on Thursday. They set a “buy” rating and a $31.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Adlai Nortye in a report on Tuesday, September 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Adlai Nortye in a research note on Tuesday, July 14th. Cantor Fitzgerald initiated coverage on shares of Adlai Nortye in a research report on Monday, June 22nd. They set an “overweight” rating for the company. Finally, Loop Capital set a $49.00 target price on shares of Adlai Nortye in a report on Tuesday. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.50.

Adlai Nortye Price Performance

NASDAQ ANL opened at $15.21 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.65 and a current ratio of 9.55. Adlai Nortye has a twelve month low of $0.88 and a twelve month high of $17.25. The stock has a fifty day simple moving average of $13.01 and a 200 day simple moving average of $11.56.

Insider Activity

In related news, CFO Xiaofeng Ye sold 6,000 shares of the 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 completion of the sale, 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. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Institutional Investors Weigh In On Adlai Nortye

Several large investors have recently made changes to their positions in the business. Seven Fleet Capital Management LP purchased a new position in shares of Adlai Nortye in the 2nd quarter worth about $1,302,000. Braidwell LP purchased a new position in Adlai Nortye in the second quarter valued at about $9,145,000. Boone Capital Management LLC bought a new position in shares of Adlai Nortye during the 2nd quarter valued at approximately $2,971,000. ADAR1 Capital Management LLC purchased a new stake in shares of Adlai Nortye during the 1st quarter worth approximately $816,000. Finally, Affinity Asset Advisors LLC purchased a new stake in shares of Adlai Nortye during the 1st quarter worth approximately $1,140,000. 35.21% of the stock is owned by hedge funds and other institutional investors.

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.