Short Interest in Adlai Nortye Ltd. (NASDAQ:ANL) Declines By 38.7%

Adlai Nortye Ltd. (NASDAQ:ANL) saw a significant decrease in short interest in September. As of September 15th, there was short interest totalling 9,500 shares, a decrease of 38.7% from the August 31st total of 15,500 shares. Based on an average daily volume of 8,200 shares, the days-to-cover ratio is presently 1.2 days.

Hedge Funds Weigh In On Adlai Nortye

A hedge fund recently raised its stake in Adlai Nortye stock. Cantor Fitzgerald L. P. raised its position in shares of Adlai Nortye Ltd. (NASDAQ:ANL) by 128.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,310 shares of the company’s stock after acquiring an additional 22,644 shares during the period. Cantor Fitzgerald L. P. owned approximately 0.11% of Adlai Nortye worth $362,000 as of its most recent SEC filing. 35.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ANL has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Adlai Nortye in a research note on Thursday, June 20th. HC Wainwright began coverage on Adlai Nortye in a research note on Wednesday, September 4th. They issued a “buy” rating and a $9.00 price objective on the stock.

Adlai Nortye Price Performance

NASDAQ:ANL opened at $2.10 on Friday. Adlai Nortye has a 1-year low of $1.90 and a 1-year high of $19.30. The business’s fifty day moving average price is $2.83 and its 200 day moving average price is $6.49.

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.