TRex Bio, Inc.’s Quiet Period To End on November 18th (NASDAQ:TRXB)

TRex Bio’s (NASDAQ:TRXB) quiet period will end on Wednesday, November 18th. TRex Bio had issued 8,333,334 shares in its initial public offering on October 9th. The total size of the offering was $116,666,676 based on an initial share price of $14.00. 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 regulations issued by the Securities and Exchange Commission. 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 equities research analysts have commented on TRXB shares. JPMorgan Chase & Co. initiated coverage on shares of TRex Bio in a research note on Tuesday, November 3rd. They set an “overweight” rating and a $20.00 target price on the stock. Wedbush initiated coverage on shares of TRex Bio in a report on Monday, November 2nd. They set an “outperform” rating and a $30.00 price target on the stock. Evercore assumed coverage on shares of TRex Bio in a research report on Tuesday, November 3rd. They issued a “strong-buy” rating for the company. Stifel Nicolaus initiated coverage on shares of TRex Bio in a research note on Tuesday, November 3rd. They issued a “buy” rating and a $39.00 price objective for the company. Finally, Zacks Research started coverage on shares of TRex Bio in a research note on Tuesday, November 3rd. They issued a “hold” rating for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $29.67.

TRex Bio Stock Down 1.1%

NASDAQ:TRXB opened at $14.10 on Friday. TRex Bio has a 1 year low of $12.50 and a 1 year high of $16.56.

Insider Activity

In other TRex Bio news, major shareholder Alexandria Venture Investments bought 178,571 shares of the firm’s stock in a transaction dated Tuesday, October 13th. The shares were purchased at an average cost of $14.00 per share, for a total transaction of $2,499,994.00. Following the transaction, the insider owned 1,346,501 shares of the company’s stock, valued at $18,851,014. This represents a 15.29% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

TRex Bio Company Profile

We are a clinical-stage biopharmaceutical company focused on tissue Treg biology for the discovery and development of immunoregulatory medicines designed to restore immune balance and promote tissue repair to address unmet needs of patients with autoimmune and inflammatory diseases. TRexBio was built on a pivotal scientific insight: that regulatory T cells (“Tregs”) in human tissue are not merely passive suppressors of inflammation, but active orchestrators of tissue immune homeostasis and repair.