Adlai Nortye (NASDAQ:ANL) Shares Gap Down – Here’s What Happened

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL)’s share price gapped down before the market opened on Monday . The stock had previously closed at $13.70, but opened at $13.12. Adlai Nortye shares last traded at $13.57, with a volume of 4,027 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Adlai Nortye in a research report on Wednesday, January 21st. Leerink Partners began coverage on Adlai Nortye in a research note on Friday, March 20th. They issued an “outperform” rating and a $23.00 price target on the stock. HC Wainwright upped their price target on Adlai Nortye from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Finally, Wall Street Zen upgraded Adlai Nortye to a “hold” rating in a research note on Saturday, March 7th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $21.50.

Adlai Nortye Trading Up 1.5%

The stock’s fifty day simple moving average is $10.71 and its 200 day simple moving average is $6.04.

Institutional Trading of Adlai Nortye

A hedge fund recently raised its stake in Adlai Nortye stock. SmartHarvest Portfolios LLC lifted its position in Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) by 8.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,367 shares of the company’s stock after purchasing an additional 1,279 shares during the period. SmartHarvest Portfolios LLC’s holdings in Adlai Nortye were worth $113,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 35.21% of the stock is currently owned by institutional investors.

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.