Cortexyme, Inc.’s (NASDAQ:CRTX) Quiet Period Set To End on June 18th

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Cortexyme’s (NASDAQ:CRTX) quiet period will expire on Tuesday, June 18th. Cortexyme had issued 4,412,000 shares in its public offering on May 9th. The total size of the offering was $75,004,000 based on an initial share price of $17.00. During the company’s quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

CRTX has been the subject of several recent research reports. Bank of America initiated coverage on shares of Cortexyme in a research note on Monday, June 3rd. They set a “neutral” rating and a $28.00 target price for the company. Credit Suisse Group initiated coverage on shares of Cortexyme in a research note on Monday, June 3rd. They set an “underperform” rating and a $14.00 target price for the company. JMP Securities initiated coverage on shares of Cortexyme in a research note on Monday, June 3rd. They set a “mkt outperform” rating and a $53.00 target price for the company. Finally, Canaccord Genuity initiated coverage on shares of Cortexyme in a research note on Monday, June 3rd. They set a “buy” rating and a $42.00 target price for the company.

Shares of NASDAQ:CRTX opened at $27.52 on Thursday. Cortexyme has a 52 week low of $19.50 and a 52 week high of $34.73.

In other news, major shareholder Pfizer Inc acquired 50,000 shares of Cortexyme stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average price of $17.00 per share, for a total transaction of $850,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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Cortexyme Company Profile

Cortexyme, Inc, a clinical stage biopharmaceutical company, focuses on developing therapeutics for Alzheimer's disease and other degenerative disorders. Its lead drug candidate is COR388, an orally-administered brain-penetrating small molecule gingipain inhibitor, which has completed Phase 1a and Phase 1b clinical trials for use in patients with mild to moderate Alzheimer's disease.

See Also: Diversification in Investing

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