Adlai Nortye (NASDAQ:ANL) Stock Jumps 10.9% – What’s Next?

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL)’s share price rose 10.9% during trading on Thursday. The company traded as high as $12.46 and last traded at $12.0650. 182,348 shares traded hands during trading, a decline of 50% from the average daily volume of 366,404 shares. The stock had previously closed at $10.88.

Analysts Set New Price Targets

ANL has been the subject of several analyst reports. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Adlai Nortye in a research note 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. Loop Capital set a $49.00 price target on shares of Adlai Nortye in a research note on Tuesday, September 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Adlai Nortye in a report on Monday. Finally, Cantor Fitzgerald began coverage on shares of Adlai Nortye in a research report on Monday, June 22nd. They issued an “overweight” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.50.

Adlai Nortye Stock Up 9.7%

The firm has a 50 day moving average price of $14.52 and a two-hundred day moving average price of $12.68.

Insider Buying and Selling at Adlai Nortye

In related news, CFO Xiaofeng Ye sold 6,000 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $13.98, for a total transaction of $83,880.00. Following the completion of the sale, the chief financial officer directly owned 153,424 shares of the company’s stock, valued at approximately $2,144,867.52. This represents a 3.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 dated 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 sale, the director directly owned 121,453 shares of the company’s stock, valued at $1,942,033.47. The trade was a 7.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 26,881 shares of company stock worth $411,060 in the last 90 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Braidwell LP purchased a new position in shares of Adlai Nortye during the 2nd quarter valued at approximately $9,145,000. Boone Capital Management LLC acquired a new position in shares of Adlai Nortye in the 2nd quarter valued at about $2,971,000. Seven Fleet Capital Management LP acquired a new position in Adlai Nortye in the second quarter valued at approximately $1,302,000. ADAR1 Capital Management LLC bought a new position in Adlai Nortye during the 1st quarter worth $816,000. Finally, Affinity Asset Advisors LLC bought a new stake in Adlai Nortye in the first quarter valued at $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.