Short Interest in Adlai Nortye Ltd. (NASDAQ:ANL) Increases By 21.5%

Adlai Nortye Ltd. (NASDAQ:ANL) was the target of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 13,000 shares, an increase of 21.5% from the May 31st total of 10,700 shares. Based on an average trading volume of 16,500 shares, the short-interest ratio is presently 0.8 days.

Hedge Funds Weigh In On Adlai Nortye

An institutional investor recently raised its position in Adlai Nortye stock. Cantor Fitzgerald L. P. increased its stake in Adlai Nortye Ltd. (NASDAQ:ANL) by 128.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,310 shares of the company’s stock after acquiring an additional 22,644 shares during the quarter. Cantor Fitzgerald L. P. owned approximately 0.11% of Adlai Nortye worth $362,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 35.21% of the company’s stock.

Adlai Nortye Price Performance

Shares of NASDAQ:ANL traded down $0.45 during trading on Friday, hitting $3.26. 2,493 shares of the stock traded hands, compared to its average volume of 21,373. The company has a fifty day moving average price of $9.05 and a two-hundred day moving average price of $8.97. Adlai Nortye has a 52-week low of $3.04 and a 52-week high of $19.30.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald restated an “overweight” rating on shares of Adlai Nortye in a research note on Thursday, June 20th.

Adlai Nortye Company Profile

Adlai Nortye Ltd., a clinical-stage biotechnology company, focuses on the discovery and development of cancer therapies in the United States and Mainland China. Its lead product is AN2025, a pan-phosphoinositide 3-kinase inhibitor, which is in Phase III clinical trial for the treatment of recurrent or metastatic head and neck squamous cell carcinomas.