Adlai Nortye (NASDAQ:ANL) Shares Gap Up to $12.40

Adlai Nortye Ltd. (NASDAQ:ANL)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $12.40, but opened at $13.75. Adlai Nortye shares last traded at $13.75, with a volume of 27,872 shares trading hands.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald reiterated an “overweight” rating on shares of Adlai Nortye in a report on Friday, January 12th.

Adlai Nortye Price Performance

The stock’s 50-day moving average price is $9.08 and its 200-day moving average price is $9.25.

Institutional Investors Weigh In On Adlai Nortye

A hedge fund recently raised its stake in Adlai Nortye stock. Cantor Fitzgerald L. P. grew its holdings in Adlai Nortye Ltd. (NASDAQ:ANL) by 128.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,310 shares of the company’s stock after acquiring an additional 22,644 shares during the quarter. Cantor Fitzgerald L. P. owned 0.11% of Adlai Nortye worth $362,000 as of its most recent SEC filing. 35.21% of the stock is currently owned by hedge funds and other institutional investors.

About Adlai Nortye

Adlai Nortye Ltd., a clinical-stage biotechnology company, focuses on the discovery and development of cancer therapies in the United States and Mainland China. Its lead product is AN2025, a pan-phosphoinositide 3-kinase inhibitor, which is in Phase III clinical trial for the treatment of recurrent or metastatic head and neck squamous cell carcinomas.