Adlai Nortye (NASDAQ:ANL) Shares Down 5.7%

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

Analysts Set New Price Targets

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

Adlai Nortye Stock Performance

The company has a 50 day simple moving average of $9.21 and a 200 day simple moving average of $9.28.

Institutional Investors Weigh In On Adlai Nortye

A hedge fund recently raised its stake in Adlai Nortye stock. Cantor Fitzgerald L. P. lifted its stake in Adlai Nortye Ltd. (NASDAQ:ANL) by 128.2% in the 4th 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 buying 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. 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.