Adlai Nortye (NASDAQ:ANL) Stock Jumps 3.4% – What’s Next?

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) traded up 3.4% during mid-day trading on Wednesday. The company traded as high as $14.97 and last traded at $14.9450. Approximately 27,484 shares traded hands during trading, a decline of 92% from the average session volume of 361,311 shares. The stock had previously closed at $14.46.

Analysts Set New Price Targets

Several research analysts recently weighed in on ANL shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Adlai Nortye in a research note on Tuesday, July 14th. Loop Capital set a $49.00 price target on Adlai Nortye in a report on Tuesday, September 8th. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Adlai Nortye in a research report on Tuesday, September 8th. Wall Street Zen upgraded Adlai Nortye from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Cantor Fitzgerald started coverage on Adlai Nortye in a research report on Monday, June 22nd. They set an “overweight” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.50.

Adlai Nortye Stock Up 0.7%

The firm’s fifty day simple moving average is $14.43 and its 200 day simple moving average is $12.40.

Insider Activity at Adlai Nortye

In related news, CFO Xiaofeng Ye sold 5,667 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $14.25, for a total value of $80,754.75. Following the completion of the sale, the chief financial officer owned 147,757 shares in the company, valued at approximately $2,105,537.25. This represents a 3.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Ping Ji sold 10,000 shares of the firm’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 completion of the transaction, the director directly owned 121,453 shares of the company’s stock, valued at $1,942,033.47. This represents a 7.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 26,881 shares of company stock valued at $411,060.

Institutional Investors Weigh In On Adlai Nortye

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

Adlai Nortye Company Profile

Adlai Nortye Ltd. (NASDAQ: ANL) is a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for cancer and other serious diseases. The company’s research and development programs are centered on immuno-oncology and targeted therapies intended to address unmet medical needs.

Adlai Nortye’s pipeline has included buparlisib, an oral pan-PI3K inhibitor being studied in oncology, as well as AN0025, an investigational EP4 antagonist designed to affect pathways involved in tumor growth and immune response.