Silk Road Medical’s (NASDAQ:SILK) quiet period will end on Tuesday, May 14th. Silk Road Medical had issued 6,000,000 shares in its initial public offering on April 4th. The total size of the offering was $120,000,000 based on an initial share price of $20.00. During the company’s quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Several research firms have issued reports on SILK. Stifel Nicolaus began coverage on shares of Silk Road Medical in a research report on Monday, April 29th. They set a “buy” rating and a $44.00 price target for the company. JPMorgan Chase & Co. assumed coverage on shares of Silk Road Medical in a research report on Monday, April 29th. They set an “overweight” rating and a $45.00 price target for the company. BMO Capital Markets assumed coverage on shares of Silk Road Medical in a report on Monday, April 29th. They set an “outperform” rating and a $40.01 target price for the company. Finally, Bank of America assumed coverage on shares of Silk Road Medical in a report on Monday, April 29th. They set a “neutral” rating and a $43.00 target price for the company. They noted that the move was a valuation call.
Shares of Silk Road Medical stock traded down $2.94 during trading on Friday, reaching $42.66. 143,137 shares of the stock were exchanged, compared to its average volume of 208,573. Silk Road Medical has a 1 year low of $30.87 and a 1 year high of $49.55.
In other Silk Road Medical news, major shareholder X Finance L.P. Wp sold 900,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $20.00, for a total transaction of $18,000,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
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Silk Road Medical Company Profile
Silk Road Medical, Inc operates as a medical device company in the United States. It offers ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and initiate temporary blood flow reversal; ENROUTE Transcarotid Stent System, a self-expanding, self-tapering stent with clinical data regarding lasting safety outcomes; ENHANCE Transcarotid Peripheral Access Kit for use in gaining initial access to the common carotid artery; and ENROUTE 0.014 Guidewire for navigating and crossing the target lesion for delivery of interventional devices.
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