Lyntris Inc.’s (NYSE:LYNX) Quiet Period Will End on September 28th

Lyntris’ (NYSE:LYNX) quiet period will expire on Monday, September 28th. Lyntris had issued 17,000,000 shares in its IPO on August 19th. The total size of the offering was $297,500,000 based on an initial share price of $17.50. During the company’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analysts Forecast Growth

Several research firms have commented on LYNX. Raymond James Financial began coverage on shares of Lyntris in a report on Monday, September 14th. They set an “outperform” rating and a $18.00 price objective for the company. Bank of America started coverage on Lyntris in a report on Monday, September 14th. They issued a “buy” rating and a $21.00 target price on the stock. Guggenheim started coverage on Lyntris in a research note on Monday, September 14th. They set a “buy” rating and a $20.00 price target for the company. Zacks Research upgraded Lyntris to a “hold” rating in a report on Tuesday, September 15th. Finally, Wall Street Zen raised Lyntris to a “hold” rating in a research note on Saturday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Lyntris presently has an average rating of “Moderate Buy” and an average target price of $19.86.

Lyntris Stock Performance

Shares of NYSE LYNX opened at $13.02 on Friday. Lyntris has a 12-month low of $12.21 and a 12-month high of $16.00.

Insider Activity

In other Lyntris news, Director Brian Raduenz sold 98,445 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $16.45, for a total transaction of $1,619,420.25. Following the completion of the transaction, the director owned 177,203 shares in the company, valued at $2,914,989.35. The trade was a 35.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Trive Capital Holdings Llc sold 8,333,333 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $17.50, for a total value of $145,833,327.50. Following the transaction, the insider owned 11,966,544 shares of the company’s stock, valued at $209,414,520. This trade represents a 41.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 8,912,282 shares of company stock worth $155,357,039 in the last 90 days.

Lyntris Company Profile

Lyntris Inc is a defense technology company delivering sense-to-act connectivity solutions for the modern, connected battlespace. Lyntris Inc is based in WASHINGTON.