ANCHIANO THERAP/S’s (NASDAQ:ANCN) quiet period is set to expire on Monday, March 25th. ANCHIANO THERAP/S had issued 2,652,174 shares in its IPO on February 12th. The total size of the offering was $30,500,001 based on an initial share price of $11.50. During the company’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration 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.
ANCN has been the subject of several research analyst reports. Oppenheimer initiated coverage on shares of ANCHIANO THERAP/S in a research report on Monday, March 11th. They issued an “outperform” rating and a $16.00 price objective for the company. LADENBURG THALM/SH SH assumed coverage on shares of ANCHIANO THERAP/S in a research note on Monday, March 11th. They issued a “buy” rating on the stock.
ANCHIANO THERAP/S stock traded down $0.04 during trading on Monday, reaching $6.26. The company had a trading volume of 1,279 shares, compared to its average volume of 16,867. ANCHIANO THERAP/S has a 1-year low of $5.85 and a 1-year high of $11.50.
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Anchiano Therapeutics Ltd, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies to treat cancer-related diseases. It is primarily developing Inodiftagene vixteplasmid for the treatment of non-muscle-invasive bladder cancer. The company was formerly known as BioCancell Ltd.
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