Xiaofeng Ye Sells 6,000 Shares of Adlai Nortye (NASDAQ:ANL) Stock

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) CFO Xiaofeng Ye sold 6,000 shares of the firm’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 transaction of $83,880.00. Following the sale, the chief financial officer owned 153,424 shares of the company’s stock, valued at $2,144,867.52. This trade represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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.

Xiaofeng Ye also recently made the following trade(s):

• On Wednesday, August 26th, Xiaofeng Ye sold 5,667 shares of Adlai Nortye stock. The stock was sold at an average price of $14.25, for a total value of $80,754.75.

Adlai Nortye Trading Down 4.9%

Adlai Nortye stock opened at $14.32 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 9.55 and a quick ratio of 0.65. Adlai Nortye Ltd. Sponsored ADR has a 52 week low of $0.88 and a 52 week high of $17.25. The stock has a fifty day moving average of $12.09 and a 200-day moving average of $11.19.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. JonesTrading started coverage on Adlai Nortye in a research note on Thursday, May 14th. They set a “buy” rating and a $22.00 target price for the company. Oppenheimer assumed coverage on shares of Adlai Nortye in a report on Thursday, May 28th. They set an “outperform” rating and a $32.00 price target on the stock. Cantor Fitzgerald initiated coverage on shares of Adlai Nortye in a research report on Monday, June 22nd. They set an “overweight” rating for the company. Wall Street Zen raised shares of Adlai Nortye from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Adlai Nortye in a research report on Tuesday, July 14th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Adlai Nortye currently has an average rating of “Moderate Buy” and a consensus target price of $24.25.

Institutional Investors Weigh In On Adlai Nortye

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SmartHarvest Portfolios LLC raised its stake in Adlai Nortye by 8.5% during the first quarter. SmartHarvest Portfolios LLC now owns 16,367 shares of the company’s stock worth $113,000 after buying an additional 1,279 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Adlai Nortye during the first quarter valued at approximately $457,000. Seven Fleet Capital Management LP acquired a new position in Adlai Nortye during the second quarter worth $1,302,000. ADAR1 Capital Management LLC acquired a new stake in shares of Adlai Nortye in the 1st quarter worth about $816,000. Finally, Affinity Asset Advisors LLC acquired a new position in Adlai Nortye during the 1st quarter valued at about $1,140,000. Institutional investors and hedge funds own 35.21% of the company’s stock.

Adlai Nortye Company Profile

Adlai Nortye Inc (NASDAQ: ANL) is a specialty chemical manufacturer headquartered in China’s Jiangsu Province. The company focuses on the research, development, production and sale of fine chemicals, with a primary emphasis on amino acids and their derivatives.

Adlai Nortye’s product portfolio includes betaine compounds, a range of high-purity L-amino acids such as L-methionine, L-threonine and glycine, as well as various chemical intermediates. These offerings serve multiple end markets, including animal feed and nutrition, personal care and cosmetic formulations, pharmaceutical ingredients and industrial chemical processes.

The company operates multiple production facilities alongside an in-house research and development center dedicated to process innovation and quality control.