Lyntris (NYSE:LYNX) Coverage Initiated at Bank of America

Research analysts at Bank of America assumed coverage on shares of Lyntris (NYSE:LYNX) in a report issued on Monday, Benzinga reports. The firm set a “buy” rating and a $21.00 price target on the stock. Bank of America‘s price objective would indicate a potential upside of 65.48% from the stock’s current price.

Several other research firms have also commented on LYNX. Wall Street Zen raised shares of Lyntris to a “hold” rating in a research note on Saturday, August 29th. William Blair began coverage on shares of Lyntris in a report on Monday. They issued an “outperform” rating for the company. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Lyntris presently has a consensus rating of “Buy” and a consensus target price of $21.00.

Lyntris Stock Performance

NYSE:LYNX opened at $12.69 on Monday. Lyntris has a 1 year low of $12.21 and a 1 year high of $16.00.

Insider Activity

In related news, major shareholder Trive Capital Holdings Llc sold 8,333,333 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $17.50, for a total value of $145,833,327.50. Following the transaction, the insider owned 11,966,544 shares of the company’s stock, valued at $209,414,520. This represents a 41.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Raduenz sold 98,445 shares of Lyntris stock in a transaction 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 sale, the director directly owned 177,203 shares of the company’s stock, valued at approximately $2,914,989.35. This trade represents a 35.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 8,912,282 shares of company stock valued at $155,357,039.

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.