Avalyn Pharma Inc.’s (NASDAQ:AVLN) Quiet Period Will Expire on June 9th

Avalyn Pharma’s (NASDAQ:AVLN) quiet period will expire on Tuesday, June 9th. Avalyn Pharma had issued 16,666,667 shares in its public offering on April 30th. The total size of the offering was $300,000,006 based on an initial share price of $18.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Evercore assumed coverage on shares of Avalyn Pharma in a report on Tuesday, May 26th. They set an “outperform” rating and a $51.00 price objective on the stock. Morgan Stanley assumed coverage on shares of Avalyn Pharma in a report on Tuesday, May 26th. They set an “overweight” rating and a $53.00 price objective on the stock. Guggenheim assumed coverage on shares of Avalyn Pharma in a report on Monday, May 25th. They set a “buy” rating and a $80.00 price objective on the stock. Jefferies Financial Group assumed coverage on shares of Avalyn Pharma in a report on Monday, May 25th. They set a “buy” rating and a $52.00 price objective on the stock. Finally, Zacks Research raised shares of Avalyn Pharma to a “hold” rating in a report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $59.00.

Avalyn Pharma Price Performance

Shares of Avalyn Pharma stock opened at $26.66 on Tuesday. Avalyn Pharma has a 12 month low of $25.05 and a 12 month high of $32.22.

Insiders Place Their Bets

In other Avalyn Pharma news, major shareholder Sr One Capital Management, Llc bought 555,555 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were acquired at an average cost of $18.00 per share, with a total value of $9,999,990.00. Following the acquisition, the insider directly owned 2,186,562 shares of the company’s stock, valued at $39,358,116. The trade was a 34.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jill Carroll bought 277,778 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was acquired at an average cost of $18.00 per share, for a total transaction of $5,000,004.00. Following the completion of the acquisition, the director directly owned 2,186,562 shares in the company, valued at approximately $39,358,116. This trade represents a 14.55% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

About Avalyn Pharma

We are a clinical-stage biopharmaceutical company pioneering inhaled therapies to transform the treatment paradigm of serious, rare respiratory diseases with significant unmet needs. Our approach is designed to address the limitations of current oral therapies by delivering optimized inhaled formulations of approved oral medicines directly to the lungs to enhance efficacy and minimize systemic exposure that contributes to side effects and treatment discontinuation. Our current pipeline is focused on treating pulmonary fibrosis, a life-threatening disease with a median survival of three to five years, which is a significantly shorter prognosis than that observed for many forms of cancer.