Calyxt, Inc.’s Lock-Up Period Set To Expire on January 16th (NASDAQ:CLXT)

Calyxt’s (NASDAQ:CLXT) lock-up period is set to end on Tuesday, January 16th. Calyxt had issued 7,000,000 shares in its initial public offering on July 20th. The total size of the offering was $56,000,000 based on an initial share price of $8.00. After the expiration of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

CLXT has been the topic of several recent research reports. Zacks Investment Research cut Calyxt from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Citigroup cut Calyxt from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 27th. Wells Fargo & Co upped their price target on Calyxt from $17.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, September 29th. BMO Capital Markets initiated coverage on Calyxt in a research note on Monday, October 30th. They issued an “outperform” rating and a $32.00 price target on the stock. Finally, Ladenburg Thalmann Financial Services initiated coverage on Calyxt in a research note on Wednesday, December 20th. They issued a “buy” rating and a $34.25 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $29.05.

Shares of Calyxt (NASDAQ:CLXT) opened at $23.39 on Tuesday. Calyxt has a 12 month low of $9.26 and a 12 month high of $31.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 12.41 and a quick ratio of 12.41.

Calyxt (NASDAQ:CLXT) last released its earnings results on Monday, November 13th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.35). Calyxt had a negative return on equity of 101.69% and a negative net margin of 5,969.52%. research analysts anticipate that Calyxt will post -1.07 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. purchased a new stake in shares of Calyxt in the third quarter worth $133,000. California State Teachers Retirement System purchased a new stake in shares of Calyxt in the third quarter worth $323,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of Calyxt in the third quarter worth $358,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Calyxt in the third quarter worth $542,000. 21.13% of the stock is currently owned by hedge funds and other institutional investors.

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Calyxt Company Profile

Calyxt, Inc is a food and agriculture company. The Company is focused on delivering healthier specialty food ingredients, such as healthier oils and high fiber wheat, for consumers and agriculturally advantageous crop traits, such as herbicide tolerance to farmers. The Company also combines gene-editing technology and technical that enables to edit a plant genome to elicit the desired traits and characteristics.

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