Adlai Nortye (NASDAQ:ANL) Stock Price Up 6.2% – What’s Next?

Shares of Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) traded up 6.2% on Monday . The stock traded as high as $14.42 and last traded at $14.07. 140,708 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 408,369 shares. The stock had previously closed at $13.25.

Wall Street Analysts Forecast Growth

ANL has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Adlai Nortye in a report on Tuesday, July 14th. JonesTrading assumed coverage on Adlai Nortye in a report on Thursday, May 14th. They set a “buy” rating and a $22.00 price target for the company. Cantor Fitzgerald initiated coverage on shares of Adlai Nortye in a research report on Monday, June 22nd. They issued an “overweight” rating on the stock. Finally, Oppenheimer began coverage on shares of Adlai Nortye in a research note on Thursday, May 28th. They issued an “outperform” rating and a $32.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $24.25.

Adlai Nortye Trading Up 6.1%

The stock has a fifty day moving average of $11.56 and a two-hundred day moving average of $10.96.

Hedge Funds Weigh In On Adlai Nortye

A number of institutional investors and hedge funds have recently made changes to their positions in ANL. Boone Capital Management LLC purchased a new position in shares of Adlai Nortye in the 2nd quarter valued at about $2,971,000. Affinity Asset Advisors LLC purchased a new stake in Adlai Nortye during the first quarter worth about $1,140,000. ADAR1 Capital Management LLC purchased a new stake in Adlai Nortye during the first quarter worth about $816,000. Renaissance Technologies LLC acquired a new position in Adlai Nortye during the first quarter worth about $457,000. Finally, SmartHarvest Portfolios LLC grew its position 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 during the period. 35.21% of the stock is owned by institutional investors and hedge funds.

About Adlai Nortye

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.