Avalanche Biotechnologies’ Quiet Period Set To Expire on September 9th (NASDAQ:AAVL)
Avalanche Biotechnologies’ (NASDAQ:AAVL) quiet period is set to expire on Tuesday, September 9th. Avalanche Biotechnologies had issued 6,000,000 shares in its initial public offering on July 31st, Analyst Ratings Network.com reports. The total size of the offering was $102,000,000 based on an initial share price of $17.00. During Avalanche Biotechnologies’ quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. 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.
AAVL has been the subject of a number of recent research reports. Analysts at William Blair initiated coverage on shares of Avalanche Biotechnologies in a research note on Monday, August 25th. They set an “outperform” rating and a $52.00 price target on the stock. Separately, analysts at Cowen and Company initiated coverage on shares of Avalanche Biotechnologies in a research note on Monday, August 25th. They set an “outperform” rating and a $45.00 price target on the stock. Finally, analysts at Piper Jaffray initiated coverage on shares of Avalanche Biotechnologies in a research note on Monday, August 25th. They set an “overweight” rating and a $39.00 price target on the stock.
Avalanche Biotechnologies (NASDAQ:AAVL) traded up 0.56% during mid-day trading on Thursday, hitting $30.77. 14,165 shares of the company’s stock traded hands. Avalanche Biotechnologies has a 1-year low of $22.00 and a 1-year high of $32.375. The stock has a 50-day moving average of $27. and a 200-day moving average of $27.. The company’s market cap is $657.2 million.
Avalanche Biotechnologies, Inc (NASDAQ:AAVL) is a biotechnology company focused on discovering and developing novel gene therapies to transform the lives of patients with sight-threatening ophthalmic diseases.
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