Adlai Nortye (NASDAQ:ANL) Stock Price Up 12.3% – Should You Buy?

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) traded up 12.3% on Wednesday . The company traded as high as $13.94 and last traded at $13.6630. 254,085 shares were traded during trading, a decline of 58% from the average session volume of 608,963 shares. The stock had previously closed at $12.17.

Analyst Upgrades and Downgrades

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

Adlai Nortye Stock Performance

The stock’s 50-day moving average price is $10.20 and its 200-day moving average price is $5.47.

Hedge Funds Weigh In On Adlai Nortye

An institutional investor recently raised its position in Adlai Nortye stock. SmartHarvest Portfolios LLC increased its position in Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) by 8.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,367 shares of the company’s stock after purchasing an additional 1,279 shares during the quarter. SmartHarvest Portfolios LLC’s holdings in Adlai Nortye were worth $113,000 as of its most recent SEC filing. Institutional investors own 35.21% of the company’s stock.

Adlai Nortye Company Profile

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.