Adlai Nortye (NASDAQ:ANL) Shares Gap Up – Should You Buy?

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL)’s share price gapped up prior to trading on Monday . The stock had previously closed at $11.94, but opened at $12.62. Adlai Nortye shares last traded at $12.63, with a volume of 39,267 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ANL. Leerink Partners began coverage on shares of Adlai Nortye in a report on Friday, March 20th. They issued an “outperform” rating and a $23.00 price target on the stock. Oppenheimer began coverage on shares of Adlai Nortye in a report on Thursday, May 28th. They issued an “outperform” rating and a $32.00 price target on the stock. JonesTrading began coverage on shares of Adlai Nortye in a report on Thursday, May 14th. They issued a “buy” rating and a $22.00 price target on the stock. HC Wainwright upped their price target on shares of Adlai Nortye from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Finally, Wall Street Zen raised shares of Adlai Nortye to a “hold” rating in a report on Saturday, March 7th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.25.

Adlai Nortye Stock Performance

The firm’s 50-day simple moving average is $11.74 and its 200-day simple moving average is $7.07.

Institutional Trading of Adlai Nortye

A number of institutional investors have recently modified their holdings of the company. ADAR1 Capital Management LLC purchased a new stake in shares of Adlai Nortye during the first quarter worth about $816,000. Affinity Asset Advisors LLC purchased a new stake in shares of Adlai Nortye during the first quarter worth about $1,140,000. Renaissance Technologies LLC purchased a new stake in shares of Adlai Nortye during the first quarter worth about $457,000. Finally, SmartHarvest Portfolios LLC boosted its holdings in shares of Adlai Nortye by 8.5% during the first quarter. SmartHarvest Portfolios LLC now owns 16,367 shares of the company’s stock worth $113,000 after purchasing an additional 1,279 shares during the period. 35.21% of the stock is currently owned by hedge funds and other institutional investors.

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.