Adlai Nortye (NASDAQ:ANL) Upgraded at Wall Street Zen

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

ANL has been the topic of a number of other reports. Jefferies Financial Group assumed coverage on shares of Adlai Nortye in a report on Thursday, September 10th. They issued a “buy” rating and a $31.00 target price on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Adlai Nortye in a report on Tuesday, July 14th. Cantor Fitzgerald began coverage on shares of Adlai Nortye in a research report on Monday, June 22nd. They issued an “overweight” rating on the stock. Loop Capital set a $49.00 price target on Adlai Nortye in a report on Tuesday, September 8th. Finally, 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. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Adlai Nortye currently has a consensus rating of “Moderate Buy” and an average price target of $29.50.

Adlai Nortye Stock Performance

NASDAQ:ANL opened at $15.04 on Friday. Adlai Nortye has a twelve month low of $0.88 and a twelve month high of $17.25. The company has a 50-day moving average of $14.39 and a 200-day moving average of $12.35.

Insider Activity

In other Adlai Nortye news, CFO Xiaofeng Ye sold 5,667 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $14.25, for a total transaction of $80,754.75. Following the sale, the chief financial officer owned 147,757 shares in the company, valued at approximately $2,105,537.25. The trade was a 3.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 company’s stock in a transaction dated Wednesday, September 30th. The shares were 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 of the company’s stock, valued at $1,942,033.47. This represents a 7.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 26,881 shares of company stock worth $411,060.

Institutional Investors Weigh In On Adlai Nortye

Hedge funds have recently made changes to their positions in the company. SmartHarvest Portfolios LLC boosted its stake in Adlai Nortye by 8.5% in the 1st 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. Renaissance Technologies LLC acquired a new stake in Adlai Nortye during the 1st quarter valued at $457,000. Seven Fleet Capital Management LP acquired a new stake in Adlai Nortye during the 2nd quarter valued at $1,302,000. ADAR1 Capital Management LLC purchased a new stake in shares of Adlai Nortye in the first quarter valued at $816,000. Finally, Affinity Asset Advisors LLC purchased a new stake in shares of Adlai Nortye in the first quarter valued at $1,140,000. Hedge funds and other institutional investors own 35.21% of the company’s stock.

About Adlai Nortye

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.