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

Key Points

• Lyntris’ quiet period expires September 28, potentially allowing IPO underwriters to begin issuing research coverage. The company sold 17 million shares at $17.50 each in its August 19 IPO, raising approximately $297.5 million.
• Analyst sentiment is broadly positive, with one Strong Buy, five Buy, and two Hold ratings. Lyntris has a “Moderate Buy” consensus rating and an average price target of $19.86, versus a recent share price of $13.54.
• Insiders have been selling shares: executives and directors sold 8.9 million shares worth approximately $155.4 million over the past three months, including sizable sales by the director and CFO on August 20.

Lyntris' (NYSE:LYNX - Get Free Report) quiet period will expire on Monday, September 28th. Lyntris had issued 17,000,000 shares in its initial 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 Lyntris' quiet period, insiders and underwriters involved in 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.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LYNX shares. Raymond James Financial started coverage on Lyntris in a report on Monday, September 14th. They set an "outperform" rating and a $18.00 target price for the company. Bank of America assumed coverage on shares of Lyntris in a research report on Monday, September 14th. They issued a "buy" rating and a $21.00 price objective for the company. Robert W. Baird set a $18.00 price target on shares of Lyntris in a research report on Monday, September 14th. UBS Group set a $21.00 price objective on Lyntris in a research report on Monday, September 14th. Finally, Wall Street Zen raised Lyntris to a "hold" rating in a research note on Saturday, August 29th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $19.86.

Lyntris Trading Down 1.1%

Shares of NYSE LYNX opened at $13.54 on Monday. Lyntris has a 12 month low of $12.21 and a 12 month high of $16.00.

Insiders Place Their Bets

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 shares were sold at an average price of $16.45, for a total value of $1,619,420.25. Following the completion of the transaction, the director owned 177,203 shares of the company's stock, valued at $2,914,989.35. The trade was a 35.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Tim Paulin sold 55,169 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $16.45, for a total transaction of $907,530.05. Following the completion of the transaction, the chief financial officer directly owned 496,525 shares in the company, valued at $8,167,836.25. The trade was a 10.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 8,912,282 shares of company stock valued at $155,357,039 over the last three months.

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.

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