ADARx Pharmaceuticals, Inc.’s Quiet Period Will End Tomorrow (NASDAQ:ADRX)

ADARx Pharmaceuticals’ (NASDAQ:ADRX) quiet period is set to expire 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, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports or earnings estimates 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 Ratings Changes

A number of research analysts have recently commented on ADRX shares. TD Cowen began coverage on ADARx Pharmaceuticals in a research note on Tuesday, October 20th. They issued a “buy” rating for the company. Zacks Research raised ADARx Pharmaceuticals to a “hold” rating in a research note on Wednesday, October 21st. UBS Group started coverage on ADARx Pharmaceuticals in a research note on Tuesday, October 20th. They issued a “buy” rating and a $35.00 price target on the stock. Wall Street Zen raised ADARx Pharmaceuticals to a “hold” rating in a research report on Saturday, October 3rd. Finally, JPMorgan Chase & Co. initiated coverage on ADARx Pharmaceuticals in a research report on Tuesday, October 20th. They set an “overweight” rating and a $38.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

ADARx Pharmaceuticals Stock Down 7.3%

ADRX stock opened at $15.76 on Tuesday. ADARx Pharmaceuticals has a twelve month low of $15.71 and a twelve month high of $23.21.

Insider Transactions at ADARx Pharmaceuticals

In related news, Director Erez Chimovits purchased 61,516 shares of ADARx Pharmaceuticals stock in a transaction dated Monday, September 28th. The stock was purchased at an average cost of $17.00 per share, for a total transaction of $1,045,772.00. Following the completion of the acquisition, the director directly owned 9,292,025 shares of the company’s stock, valued at $157,964,425. The trade was a 0.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Sr One Capital Management, Llc purchased 1,600,000 shares of ADARx Pharmaceuticals stock in a transaction dated Monday, September 28th. The shares were bought at an average price of $17.00 per share, with a total value of $27,200,000.00. Following the completion of the acquisition, the insider directly owned 5,554,094 shares of the company’s stock, valued at approximately $94,419,598. This represents a 40.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have purchased 3,261,516 shares of company stock valued at $55,445,772.

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.