Fractyl Health’s (NASDAQ:GUTS – Get Free Report) quiet period will end on Wednesday, March 13th. Fractyl Health had issued 7,333,333 shares in its public offering on February 2nd. The total size of the offering was $109,999,995 based on an initial share price of $15.00. During Fractyl Health’s quiet period, insiders and underwriters involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. 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.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the company. Bank of America assumed coverage on Fractyl Health in a research report on Tuesday, February 27th. They set a “buy” rating and a $26.00 target price for the company. Morgan Stanley assumed coverage on Fractyl Health in a research report on Tuesday, February 27th. They set an “overweight” rating and a $18.00 target price for the company. Finally, Evercore ISI initiated coverage on Fractyl Health in a research report on Wednesday, February 28th. They set an “outperform” rating for the company.
Read Our Latest Report on GUTS
Fractyl Health Stock Performance
Insider Buying and Selling
In other news, Director Ajay Royan bought 333,333 shares of the stock in a transaction on Tuesday, February 6th. The stock was acquired at an average price of $15.00 per share, with a total value of $4,999,995.00. Following the acquisition, the director now directly owns 1,251,900 shares in the company, valued at $18,778,500. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Fractyl Health Company Profile
Fractyl Health, Inc, a metabolic therapeutics company, develops therapies for the treatment of type 2 diabetes (T2D) and obesity. The company develops Revita DMR System (Revita), an outpatient procedural therapy designed to durably modify duodenal dysfunction, a pathologic consequence of a high fat and high sugar diet, which can initiate T2D and obesity in humans.
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