Adlai Nortye (NASDAQ:ANL) Raised to Buy at Wall Street Zen

Adlai Nortye (NASDAQ:ANL) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday, Wall Street Zen reports.

Several other equities research analysts have also recently commented on the company. Jefferies Financial Group started coverage on Adlai Nortye in a research note on Thursday, September 10th. They issued a “buy” rating and a $31.00 price target for the company. Loop Capital set a $49.00 price objective on shares of Adlai Nortye in a research report on Tuesday, September 8th. Cantor Fitzgerald started coverage on shares of Adlai Nortye in a research report on Monday, June 22nd. They issued an “overweight” rating for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Adlai Nortye in a research note on Tuesday, July 14th. Finally, HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Adlai Nortye in a 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. According to data from MarketBeat.com, Adlai Nortye has a consensus rating of “Moderate Buy” and an average target price of $29.50.

Adlai Nortye Price Performance

ANL opened at $15.09 on Friday. Adlai Nortye has a 1 year low of $0.88 and a 1 year high of $17.25. The stock has a fifty day moving average price of $14.34 and a 200 day moving average price of $12.30.

Insider Activity at Adlai Nortye

In related news, CFO Xiaofeng Ye sold 6,000 shares of Adlai Nortye stock in a transaction 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 transaction, the chief financial officer owned 153,424 shares in the company, valued at $2,144,867.52. This trade represents a 3.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 firm’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $15.99, for a total value of $159,900.00. Following the completion of the sale, the director directly owned 121,453 shares in the company, valued at approximately $1,942,033.47. This represents a 7.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 26,881 shares of company stock worth $411,060.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ANL. Seven Fleet Capital Management LP bought a new position in Adlai Nortye during the second quarter worth $1,302,000. Braidwell LP bought a new position in Adlai Nortye during the second quarter valued at about $9,145,000. Boone Capital Management LLC bought a new stake in shares of Adlai Nortye in the 2nd quarter worth approximately $2,971,000. ADAR1 Capital Management LLC bought a new stake in shares of Adlai Nortye during the first quarter valued at approximately $816,000. Finally, Affinity Asset Advisors LLC bought a new position in Adlai Nortye in the first quarter worth $1,140,000. 35.21% of the stock is currently owned by institutional investors and hedge funds.

Adlai Nortye Company Profile

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.