ADRs End Lower; Luckin Coffee, Ambrx Among Companies Actively Trading

By Kimberly Chin

International stocks trading in New York closed lower on Wednesday. The S&P/BNY Mellon index of American depositary receipts fell 0.7% to 170.29. The European index declined 0.6% to 142.80. The Asian index fell 0.9% to 241.57. The Latin American index decreased 0.4% to 223.84. And the emerging-markets index fell 0.5% to 423.87.

Luckin Coffee Inc.'s ADRs, which trade over the counter, rose 22% on Wednesday after the Chinese-based coffee chain released its restated fourth-quarter 2019 financial results following an internal investigation last year that found financial misconduct started in April 2019 had resulted in inflation of its 2019 net revenue.

Ambrx Biopharma Inc.'s ADRs rose 7.9% after the clinical-stage biopharmaceutical company named Sonja Nelson its chief financial officer. Ms. Nelson was most recently the CFO NantKwest, now ImmunityBio Inc.

ADRs of Freeline Therapeutics Inc. tumbled 3% after the clinical-stage biotechnology company made a number of changes to its ranks. The company expanded its executive leadership team by naming James Bircher as its chief technical operations officer, effective Thursday. Freeline also said that Chief Scientific Officer Romuald Corbau will leave the company to pursue other opportunities. He will stay in his current role until Aug. 20 to help with the transition. Amit Nathwani will take on the CSO role on an interim basis, the company said.

Write to Kimberly Chin at [e-mail]

(END) Dow Jones Newswires

06-30-21 1951ET