Insider Selling: Adlai Nortye (NASDAQ:ANL) CFO Sells 5,667 Shares of Stock

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) CFO Xiaofeng Ye sold 5,667 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $14.25, for a total value of $80,754.75. Following the sale, the chief financial officer directly owned 147,757 shares in the company, valued at $2,105,537.25. This trade represents a 3.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 Monday, August 24th, Xiaofeng Ye sold 6,000 shares of Adlai Nortye stock. The shares were sold at an average price of $13.98, for a total value of $83,880.00.

Adlai Nortye Stock Up 9.5%

NASDAQ:ANL traded up $1.31 during mid-day trading on Wednesday, hitting $15.05. 147,795 shares of the company’s stock traded hands, compared to its average volume of 397,755. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.65 and a current ratio of 9.55. The firm’s 50 day simple moving average is $11.91 and its 200 day simple moving average is $11.13. Adlai Nortye Ltd. Sponsored ADR has a 1 year low of $0.88 and a 1 year high of $17.25.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Adlai Nortye

Hedge funds have recently modified their holdings of the stock. SmartHarvest Portfolios LLC grew its holdings in Adlai Nortye by 8.5% in the first quarter. SmartHarvest Portfolios LLC now owns 16,367 shares of the company’s stock valued at $113,000 after purchasing an additional 1,279 shares during the period. Renaissance Technologies LLC acquired a new position in Adlai Nortye during the first quarter worth approximately $457,000. Affinity Asset Advisors LLC purchased a new position in Adlai Nortye during the first quarter worth approximately $1,140,000. ADAR1 Capital Management LLC purchased a new position in Adlai Nortye during the first quarter worth approximately $816,000. Finally, Boone Capital Management LLC acquired a new position in shares of Adlai Nortye in the 2nd quarter valued at $2,971,000. 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.