Lyntris Inc.’s Quiet Period Set To Expire on September 28th (NYSE:LYNX)

Lyntris’ (NYSE:LYNX) quiet period is set to end on Monday, September 28th. Lyntris had issued 17,000,000 shares in its public offering 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 prevented 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.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Citigroup started coverage on Lyntris in a report on Monday, September 14th. They set a “buy” rating and a $19.00 price objective on the stock. Bank of America assumed coverage on Lyntris in a research report on Monday, September 14th. They set a “buy” rating and a $21.00 target price for the company. Zacks Research raised Lyntris to a “hold” rating in a research note on Tuesday, September 15th. William Blair initiated coverage on Lyntris in a research note on Monday, September 14th. They set an “outperform” rating on the stock. Finally, Robert W. Baird set a $18.00 price target on Lyntris in a report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.86.

Lyntris Stock Performance

Shares of Lyntris stock opened at $13.34 on Wednesday. Lyntris has a 52 week low of $12.21 and a 52 week high of $16.00.

Insider Buying and Selling at Lyntris

In related news, CEO Brian Morrison sold 186,752 shares of Lyntris stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $16.45, for a total transaction of $3,072,070.40. Following the completion of the sale, the chief executive officer directly owned 1,286,983 shares of the company’s stock, valued at $21,170,870.35. The trade was a 12.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Raduenz sold 98,445 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $16.45, for a total value of $1,619,420.25. Following the completion of the sale, the director owned 177,203 shares of the company’s stock, valued at $2,914,989.35. This represents a 35.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 8,912,282 shares of company stock valued at $155,357,039 over the last quarter.

About Lyntris

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