Adlai Nortye (NASDAQ:ANL) Shares Down 5.7%

Adlai Nortye Ltd. (NASDAQ:ANL)’s share price was down 5.7% during mid-day trading on Tuesday . The stock traded as low as $13.60 and last traded at $13.60. Approximately 495 shares traded hands during trading, a decline of 93% from the average daily volume of 6,787 shares. The stock had previously closed at $14.42.

Analyst Ratings Changes

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Adlai Nortye in a research note on Friday, January 12th.

Adlai Nortye Stock Down 13.2 %

The business has a 50 day simple moving average of $8.95 and a 200-day simple moving average of $9.23.

Hedge Funds Weigh In On Adlai Nortye

An institutional investor recently raised its position in Adlai Nortye stock. Cantor Fitzgerald L. P. increased its position in shares of Adlai Nortye Ltd. (NASDAQ:ANL) by 128.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,310 shares of the company’s stock after buying an additional 22,644 shares during the quarter. Cantor Fitzgerald L. P. owned 0.11% of Adlai Nortye worth $362,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 35.21% of the company’s stock.

About Adlai Nortye

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.