Adlai Nortye (NASDAQ:ANL) Shares Up 7.7% – Still a Buy?

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) traded up 7.7% on Friday . The stock traded as high as $16.02 and last traded at $15.89. 194,152 shares traded hands during trading, a decline of 50% from the average daily volume of 386,535 shares. The stock had previously closed at $14.75.

Analyst Ratings Changes

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

Adlai Nortye Stock Performance

The stock has a fifty day moving average of $12.45 and a 200-day moving average of $11.35. 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 related news, 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 value of $83,880.00. Following the completion of the transaction, the chief financial officer directly owned 153,424 shares of the company’s stock, valued at $2,144,867.52. This trade represents a 3.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Institutional Investors Weigh In On Adlai Nortye

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

About Adlai Nortye

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.