ADARx Pharmaceuticals, Inc.’s Quiet Period Will End on November 4th (NASDAQ:ADRX)

ADARx Pharmaceuticals’ (NASDAQ:ADRX) quiet period will end on Wednesday, November 4th. ADARx Pharmaceuticals had issued 26,250,000 shares in its initial public offering on September 25th. The total size of the offering was $446,250,000 based on an initial share price of $17.00. During the company’s quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Ratings Changes

A number of analysts recently commented on ADRX shares. Zacks Research upgraded shares of ADARx Pharmaceuticals to a “hold” rating in a research note on Wednesday, October 21st. JPMorgan Chase & Co. assumed coverage on shares of ADARx Pharmaceuticals in a research note on Tuesday, October 20th. They issued an “overweight” rating and a $38.00 price objective for the company. Morgan Stanley initiated coverage on shares of ADARx Pharmaceuticals in a research note on Tuesday, October 20th. They issued an “overweight” rating and a $32.00 price objective for the company. TD Cowen assumed coverage on shares of ADARx Pharmaceuticals in a report on Tuesday, October 20th. They set a “buy” rating on the stock. Finally, UBS Group initiated coverage on ADARx Pharmaceuticals in a research report on Tuesday, October 20th. They set a “buy” rating and a $35.00 target price on the stock. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.00.

ADARx Pharmaceuticals Price Performance

ADRX stock opened at $17.85 on Friday. ADARx Pharmaceuticals has a 12 month low of $16.61 and a 12 month high of $23.21.

Insiders Place Their Bets

In other news, Director Erez Chimovits bought 61,516 shares of the stock in a transaction on Monday, September 28th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $1,045,772.00. Following the purchase, the director directly owned 9,292,025 shares of the company’s stock, valued at $157,964,425. This trade represents a 0.67% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Simeon George purchased 1,600,000 shares of ADARx Pharmaceuticals stock in a transaction dated Monday, September 28th. The shares were purchased at an average price of $17.00 per share, with a total value of $27,200,000.00. Following the completion of the transaction, the director directly owned 5,554,094 shares in the company, valued at approximately $94,419,598. This represents a 40.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 3,261,516 shares of company stock worth $55,445,772 in the last three months.

ADARx Pharmaceuticals Company Profile

ADARx Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that target disease-driving proteins through RNA-based technologies. The company’s platform is designed to support potent and durable control of protein production, with the goal of creating therapies that may be administered less frequently than conventional treatments.

ADARx is advancing a pipeline of investigational therapeutics for conditions involving the kallikrein-kinin and complement pathways, which are implicated in hereditary angioedema and other immune-mediated or inflammatory diseases.