BeyondSpring Inc.’s (BYSI) Lock-Up Period Set To Expire on September 5th
BeyondSpring’s (NASDAQ:BYSI) lock-up period is set to expire on Tuesday, September 5th. BeyondSpring had issued 174,286 shares in its initial public offering on March 9th. The total size of the offering was $3,485,720 based on an initial share price of $20.00. 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.
Several brokerages have issued reports on BYSI. Maxim Group began coverage on BeyondSpring in a research note on Tuesday, August 22nd. They issued a “buy” rating and a $52.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of BeyondSpring in a report on Monday, August 21st. Zacks Investment Research upgraded BeyondSpring from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Rodman & Renshaw boosted their price objective on BeyondSpring from $43.00 to $50.00 and gave the company a “buy” rating in a report on Friday, July 14th.
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BeyondSpring (NASDAQ:BYSI) opened at 40.59 on Friday. The company’s market cap is $927.24 million. BeyondSpring has a 52 week low of $16.55 and a 52 week high of $48.49. The firm has a 50-day moving average price of $39.45 and a 200-day moving average price of $31.92.
A hedge fund recently bought a new stake in BeyondSpring stock. Tanaka Capital Management Inc. bought a new stake in shares of BeyondSpring Inc. (NASDAQ:BYSI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 21,322 shares of the company’s stock, valued at approximately $914,000. BeyondSpring comprises approximately 2.1% of Tanaka Capital Management Inc.’s investment portfolio, making the stock its 16th largest position. Tanaka Capital Management Inc. owned 0.10% of BeyondSpring as of its most recent SEC filing. Institutional investors own 1.23% of the company’s stock.
BeyondSpring Inc is a global clinical-stage biopharmaceutical company. The Company is focused on the development of cancer therapies. The Company is engaged in advancing its lead product, Plinabulin, into a Phase II/III clinical trial for the reduction of docetaxel chemotherapy-induced severe, grade 4 neutropenia; a Phase II/III clinical trial for the prevention of non-docetaxel chemotherapy-induced severe, grade 4 neutropenia, and a Phase III clinical trial as an anticancer agent in combination with docetaxel in advanced non-small cell lung cancer (NSCLC).
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