Adlai Nortye (NASDAQ:ANL) Stock Price Down 9.1% – Should You Sell?

Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL)’s stock price fell 9.1% on Monday. The company traded as low as $14.00 and last traded at $14.1910. Approximately 308,137 shares changed hands during mid-day trading, a decline of 15% from the average session volume of 363,625 shares. The stock had previously closed at $15.62.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Loop Capital set a $49.00 target price on shares of Adlai Nortye in a research note on Tuesday, September 8th. Cantor Fitzgerald initiated coverage on shares of Adlai Nortye in a research note on Monday, June 22nd. They issued an “overweight” rating for the company. HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Adlai Nortye in a report on Tuesday, September 8th. Wall Street Zen upgraded shares of Adlai Nortye from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. Finally, Jefferies Financial Group upgraded shares of Adlai Nortye to a “strong-buy” rating in a research report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Adlai Nortye has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Adlai Nortye Trading Down 9.2%

The business has a 50-day moving average of $14.57 and a 200 day moving average of $12.57.

Insider Activity

In other Adlai Nortye news, CFO Xiaofeng Ye sold 6,000 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $13.98, for a total transaction of $83,880.00. Following the completion of the sale, the chief financial officer directly owned 153,424 shares in the company, valued at $2,144,867.52. The trade was a 3.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Ping Ji sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $15.99, for a total transaction of $159,900.00. Following the sale, the director directly owned 121,453 shares of the company’s stock, valued at $1,942,033.47. The trade was a 7.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 26,881 shares of company stock worth $411,060 over the last three months.

Institutional Trading of Adlai Nortye

Large investors have recently added to or reduced their stakes in the business. Braidwell LP bought a new stake in Adlai Nortye during the second quarter valued at approximately $9,145,000. Boone Capital Management LLC bought a new position in Adlai Nortye in the second quarter worth approximately $2,971,000. Seven Fleet Capital Management LP bought a new position in Adlai Nortye in the second quarter worth approximately $1,302,000. Affinity Asset Advisors LLC purchased a new position in shares of Adlai Nortye during the 1st quarter worth $1,140,000. Finally, ADAR1 Capital Management LLC purchased a new position in shares of Adlai Nortye during the 1st quarter worth $816,000. 35.21% of the stock is currently owned by institutional investors.

About Adlai Nortye

Adlai Nortye Ltd. (NASDAQ: ANL) is a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for cancer and other serious diseases. The company’s research and development programs are centered on immuno-oncology and targeted therapies intended to address unmet medical needs.

Adlai Nortye’s pipeline has included buparlisib, an oral pan-PI3K inhibitor being studied in oncology, as well as AN0025, an investigational EP4 antagonist designed to affect pathways involved in tumor growth and immune response.