Adlai Nortye (NASDAQ:ANL) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Adlai Nortye (NASDAQ:ANL) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other equities analysts have also weighed in on the company. Jefferies Financial Group began coverage on Adlai Nortye in a research note on Thursday. They set a “buy” rating and a $31.00 price objective for the company. Cantor Fitzgerald began coverage on Adlai Nortye in a report on Monday, June 22nd. They set an “overweight” rating on the stock. Oppenheimer initiated coverage on Adlai Nortye in a research report on Thursday, May 28th. They set an “outperform” rating and a $32.00 price target for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Adlai Nortye in a report on Tuesday, July 14th. Finally, HC Wainwright restated a “buy” rating and issued a $20.00 price objective on shares of Adlai Nortye in a research report on Tuesday, September 8th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Adlai Nortye Stock Performance

NASDAQ:ANL opened at $15.93 on Friday. The company’s fifty day moving average price is $13.11 and its 200-day moving average price is $11.61. Adlai Nortye has a 1-year low of $0.88 and a 1-year high of $17.25. The company has a current ratio of 9.55, a quick ratio of 0.65 and a debt-to-equity ratio of 0.04.

Insiders Place Their Bets

In other Adlai Nortye news, CFO Xiaofeng Ye sold 6,000 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $13.98, for a total transaction of $83,880.00. Following the transaction, the chief financial officer owned 153,424 shares in the company, valued at approximately $2,144,867.52. This represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Institutional Trading of Adlai Nortye

Institutional investors and hedge funds have recently made changes to their positions in the business. Seven Fleet Capital Management LP purchased a new stake in shares of Adlai Nortye in the second quarter valued at approximately $1,302,000. 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 purchased a new position in shares of Adlai Nortye during the 2nd quarter valued at approximately $2,971,000. ADAR1 Capital Management LLC acquired a new stake in Adlai Nortye in the 1st quarter valued at $816,000. Finally, Affinity Asset Advisors LLC acquired a new stake in Adlai Nortye in the 1st quarter valued at $1,140,000. 35.21% of the stock is currently owned by hedge funds and other institutional investors.

Adlai Nortye Company Profile

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.