Adlai Nortye (NASDAQ:ANL) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Adlai Nortye (NASDAQ:ANL) to a strong-buy rating in a report issued on Monday morning,Zacks reports.

Several other research firms have also issued reports on ANL. Weiss Ratings reissued a “sell (e+)” rating on shares of Adlai Nortye in a report on Tuesday, July 14th. Cantor Fitzgerald assumed coverage on shares of Adlai Nortye in a report on Monday, June 22nd. They set an “overweight” rating on the stock. Loop Capital set a $49.00 price target on shares of Adlai Nortye in a research report on Tuesday, September 8th. Wall Street Zen raised shares of Adlai Nortye from a “hold” rating to a “buy” rating in a research note on Saturday, October 3rd. Finally, HC Wainwright restated a “buy” rating and set a $20.00 price objective 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 assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $29.50.

Adlai Nortye Stock Down 2.8%

ANL stock opened at $14.05 on Monday. Adlai Nortye has a twelve month low of $0.88 and a twelve month high of $17.25. The business’s 50-day moving average price is $14.46 and its 200-day moving average price is $12.45.

Insider Buying and Selling

In other Adlai Nortye news, CFO Xiaofeng Ye sold 6,000 shares of the company’s stock in a transaction that occurred on 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 directly owned 153,424 shares in the company, valued at $2,144,867.52. This represents a 3.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 company’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $15.99, for a total value of $159,900.00. Following the completion of the transaction, the director owned 121,453 shares of the company’s stock, valued at $1,942,033.47. The trade was a 7.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 26,881 shares of company stock worth $411,060.

Hedge Funds Weigh In On Adlai Nortye

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

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.