TRex Bio, Inc.’s Quiet Period To End on November 18th (NASDAQ:TRXB)

TRex Bio’s (NASDAQ:TRXB) quiet period is set to expire on Wednesday, November 18th. TRex Bio had issued 8,333,334 shares in its initial public offering on October 9th. The total size of the offering was $116,666,676 based on an initial share price of $14.00. During TRex Bio’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. 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.

Analyst Upgrades and Downgrades

TRXB has been the subject of a number of recent research reports. Cantor Fitzgerald started coverage on TRex Bio in a report on Tuesday, November 3rd. They issued an “overweight” rating for the company. Zacks Research began coverage on TRex Bio in a research note on Tuesday, November 3rd. They issued a “hold” rating on the stock. Wedbush began coverage on TRex Bio in a research report on Monday, November 2nd. They issued an “outperform” rating and a $30.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on TRex Bio in a research note on Tuesday, November 3rd. They set an “overweight” rating and a $20.00 price objective for the company. Finally, Stifel Nicolaus began coverage on TRex Bio in a report on Tuesday, November 3rd. They set a “buy” rating and a $39.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, TRex Bio presently has an average rating of “Buy” and an average price target of $29.67.

TRex Bio Stock Down 3.0%

TRex Bio stock opened at $13.67 on Friday. TRex Bio has a 12-month low of $12.50 and a 12-month high of $16.56.

TRex Bio (NASDAQ:TRXB) last issued its quarterly earnings data on Friday, November 13th. The company reported ($10.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($9.37). On average, analysts predict that TRex Bio will post -4.28 EPS for the current fiscal year.

Insider Activity at TRex Bio

In related news, major shareholder Alexandria Venture Investments purchased 178,571 shares of the firm’s stock in a transaction dated Tuesday, October 13th. The shares were acquired at an average cost of $14.00 per share, with a total value of $2,499,994.00. Following the completion of the purchase, the insider directly owned 1,346,501 shares of the company’s stock, valued at $18,851,014. This trade represents a 15.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

About TRex Bio

We are a clinical-stage biopharmaceutical company focused on tissue Treg biology for the discovery and development of immunoregulatory medicines designed to restore immune balance and promote tissue repair to address unmet needs of patients with autoimmune and inflammatory diseases. TRexBio was built on a pivotal scientific insight: that regulatory T cells (“Tregs”) in human tissue are not merely passive suppressors of inflammation, but active orchestrators of tissue immune homeostasis and repair.