Adlai Nortye (NASDAQ:ANL) Shares Down 5.7%

Adlai Nortye Ltd. (NASDAQ:ANL) shares dropped 5.7% on Tuesday . The stock traded as low as $13.60 and last traded at $13.60. Approximately 495 shares were traded during trading, a decline of 93% from the average daily volume of 6,787 shares. The stock had previously closed at $14.42.

Wall Street Analysts Forecast Growth

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

Adlai Nortye Trading Up 8.7 %

The company has a fifty day moving average of $9.21 and a 200-day moving average of $9.28.

Hedge Funds Weigh In On Adlai Nortye

A hedge fund recently raised its stake in Adlai Nortye stock. Cantor Fitzgerald L. P. raised its stake in shares of Adlai Nortye Ltd. (NASDAQ:ANL) by 128.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,310 shares of the company’s stock after buying an additional 22,644 shares during the period. Cantor Fitzgerald L. P. owned 0.11% of Adlai Nortye worth $362,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.