Adlai Nortye (NASDAQ:ANL) Rating Lowered to “Hold” at Wall Street Zen

Adlai Nortye (NASDAQ:ANL) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other brokerages have also commented on ANL. Jefferies Financial Group raised Adlai Nortye to a “strong-buy” rating in a report on Monday, October 5th. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Adlai Nortye in a report on Tuesday, September 8th. Loop Capital set a $49.00 target price on Adlai Nortye in a research report on Tuesday, September 8th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Adlai Nortye in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Adlai Nortye has a consensus rating of “Moderate Buy” and a consensus price target of $29.50.

Adlai Nortye Stock Performance

Shares of ANL opened at $9.55 on Friday. The company’s fifty day moving average is $13.82 and its 200-day moving average is $11.26. Adlai Nortye has a 12 month low of $0.88 and a 12 month high of $17.25.

Insider Transactions at Adlai Nortye

In other news, Director Ping Ji sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $15.99, for a total transaction of $159,900.00. Following the sale, the director directly owned 121,453 shares in the company, valued at approximately $1,942,033.47. The trade was a 7.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Xiaofeng Ye sold 5,667 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $14.25, for a total transaction of $80,754.75. Following the completion of the transaction, the chief financial officer owned 147,757 shares of the company’s stock, valued at approximately $2,105,537.25. This represents a 3.69% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 26,881 shares of company stock worth $411,060.

Institutional Investors Weigh In On Adlai Nortye

A number of large investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. acquired a new stake in Adlai Nortye during the 3rd quarter valued at $25,000. Seven Fleet Capital Management LP acquired a new position in Adlai Nortye in the second quarter worth $1,302,000. Braidwell LP acquired a new position in Adlai Nortye in the second quarter worth $9,145,000. Boone Capital Management LLC bought a new stake in shares of Adlai Nortye during the second quarter worth $2,971,000. Finally, ADAR1 Capital Management LLC bought a new stake in shares of Adlai Nortye during the first quarter worth $816,000. 35.21% of the stock is currently owned by institutional investors.

Adlai Nortye Company Profile

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.