Affinity Asset Advisors LLC Makes New Investment in Adlai Nortye Ltd. Sponsored ADR $ANL

Affinity Asset Advisors LLC purchased a new position in shares of Adlai Nortye Ltd. Sponsored ADR (NASDAQ:ANL) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 164,748 shares of the company’s stock, valued at approximately $1,140,000.

Separately, Renaissance Technologies LLC purchased a new stake in shares of Adlai Nortye in the 1st quarter worth $457,000. 35.21% of the stock is currently owned by hedge funds and other institutional investors.

Adlai Nortye Trading Down 5.4%

Shares of NASDAQ:ANL opened at $12.50 on Friday. Adlai Nortye Ltd. Sponsored ADR has a 12 month low of $0.88 and a 12 month high of $17.25. The firm’s 50-day moving average is $10.95 and its 200 day moving average is $9.58.

Analysts Set New Price Targets

A number of brokerages recently commented on ANL. Cantor Fitzgerald started coverage on Adlai Nortye in a report on Monday, June 22nd. They issued an “overweight” rating on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Adlai Nortye in a research report on Tuesday, July 14th. Oppenheimer initiated coverage on shares of Adlai Nortye in a report on Thursday, May 28th. They issued an “outperform” rating and a $32.00 target price for the company. HC Wainwright increased their price objective on shares of Adlai Nortye from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Finally, 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 price objective on the stock. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.25.

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.