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

Wall Street Zen cut shares of Adlai Nortye (NASDAQ:ANL) from a buy rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Other research analysts have also issued reports about the stock. Loop Capital set a $49.00 price objective 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 research report on Monday, October 12th. 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. Finally, Jefferies Financial Group upgraded shares of Adlai Nortye to a “strong-buy” rating in a report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Adlai Nortye has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Adlai Nortye Price Performance

NASDAQ ANL opened at $9.37 on Friday. The business’s 50 day moving average price is $13.73 and its 200-day moving average price is $11.30. Adlai Nortye has a fifty-two week low of $0.88 and a fifty-two week high of $17.25.

Insider Buying and Selling

In related news, Director Ping Ji sold 10,000 shares of the firm’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 transaction of $159,900.00. Following the completion of the sale, the director directly owned 121,453 shares of the company’s stock, valued at approximately $1,942,033.47. This trade represents a 7.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Xiaofeng Ye sold 5,667 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $14.25, for a total value of $80,754.75. Following the transaction, the chief financial officer owned 147,757 shares of the company’s stock, valued at approximately $2,105,537.25. The trade was a 3.69% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 26,881 shares of company stock valued at $411,060 over the last three months.

Institutional Trading of Adlai Nortye

Several institutional investors and hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. bought a new position in shares of Adlai Nortye in the third quarter worth about $25,000. Seven Fleet Capital Management LP purchased a new position in Adlai Nortye in the 2nd quarter worth about $1,302,000. Braidwell LP bought a new stake in Adlai Nortye during the 2nd quarter valued at about $9,145,000. Boone Capital Management LLC bought a new stake in Adlai Nortye during the 2nd quarter valued at about $2,971,000. Finally, ADAR1 Capital Management LLC bought a new stake in Adlai Nortye during the 1st quarter valued at about $816,000. 35.21% of the stock is currently owned by institutional investors.

About Adlai Nortye

Adlai Nortye (NASDAQ: ANL) is a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for cancer and other serious diseases. The company’s research is centered on treatments designed to stimulate or enhance the immune system’s ability to identify and attack cancer cells.

Adlai Nortye’s pipeline includes buparlisib, an oral pan-class I phosphoinositide 3-kinase inhibitor being investigated in oncology. The company has evaluated buparlisib in combination with immunotherapy for patients with recurrent or metastatic head and neck squamous cell carcinoma.