Jefferies Financial Group Upgrades Adlai Nortye (NASDAQ:ANL) to Strong-Buy

Adlai Nortye (NASDAQ:ANL) was upgraded by equities researchers at Jefferies Financial Group to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other brokerages also recently commented on ANL. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Adlai Nortye in a research report on Tuesday, July 14th. Loop Capital set a $49.00 price objective on Adlai Nortye in a research report on Tuesday, September 8th. Wall Street Zen upgraded shares of Adlai Nortye from a “hold” rating to a “buy” rating in a research note on Saturday. Cantor Fitzgerald initiated coverage on shares of Adlai Nortye in a research note on Monday, June 22nd. They issued an “overweight” rating on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Adlai Nortye in a research report on Tuesday, September 8th. One investment 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $29.50.

Adlai Nortye Price Performance

NASDAQ ANL opened at $14.46 on Monday. Adlai Nortye has a twelve month low of $0.88 and a twelve month high of $17.25. The stock has a 50-day simple moving average of $14.43 and a 200 day simple moving average of $12.40.

Insider Activity

In related news, Director Ping Ji sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $15.99, for a total transaction of $159,900.00. Following the transaction, the director directly owned 121,453 shares in the company, valued at $1,942,033.47. The trade was a 7.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Xiaofeng Ye sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $13.98, for a total value of $83,880.00. Following the completion of the transaction, the chief financial officer directly owned 153,424 shares of the company’s stock, valued at approximately $2,144,867.52. This trade represents a 3.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 26,881 shares of company stock worth $411,060 over the last 90 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SmartHarvest Portfolios LLC boosted its stake in 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 buying an additional 1,279 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Adlai Nortye in the 1st quarter valued at $457,000. ADAR1 Capital Management LLC acquired a new position in shares of Adlai Nortye in the 1st quarter valued at $816,000. Affinity Asset Advisors LLC bought a new position in shares of Adlai Nortye during the 1st quarter worth about $1,140,000. Finally, Seven Fleet Capital Management LP bought a new position in shares of Adlai Nortye during the 2nd quarter worth about $1,302,000. 35.21% of the stock is owned by institutional investors.

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.