Wall Street Zen Downgrades Adlai Nortye (NASDAQ:ANL) to Hold

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

ANL has been the topic of several other research reports. Loop Capital set a $49.00 price objective on shares of Adlai Nortye in a research note on Tuesday, September 8th. Cantor Fitzgerald started coverage on shares of Adlai Nortye in a research note on Monday, June 22nd. They set an “overweight” rating for the company. Oppenheimer started coverage on Adlai Nortye in a research report on Thursday, May 28th. They issued an “outperform” rating and a $32.00 price target on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Adlai Nortye in a research note on Tuesday, July 14th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Adlai Nortye in a research report on Tuesday, September 8th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.50.

Adlai Nortye Price Performance

NASDAQ:ANL opened at $15.21 on Friday. The firm’s 50-day moving average price is $13.01 and its 200-day moving average price is $11.57. The company has a quick ratio of 0.65, a current ratio of 9.55 and a debt-to-equity ratio of 0.04. Adlai Nortye has a 1-year low of $0.88 and a 1-year high of $17.25.

Insiders Place Their Bets

In other Adlai Nortye news, CFO Xiaofeng Ye sold 6,000 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was 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 owned 153,424 shares of the company’s stock, valued at approximately $2,144,867.52. The trade was a 3.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Hedge Funds Weigh In On Adlai Nortye

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

About Adlai Nortye

Adlai Nortye Ltd. is a clinical-stage biopharmaceutical company focused on developing innovative therapies for cancer and other serious diseases. The company’s research and development activities center on oncology and immuno-oncology, with the goal of addressing unmet needs in the treatment of solid tumors.

Adlai Nortye’s lead candidate is buparlisib, also known as AN2025, an oral pan-class I phosphoinositide 3-kinase (PI3K) inhibitor being developed for oncology indications, including head and neck cancer.