LianBio’s (NASDAQ:LIAN) Lock-Up Period To Expire on May 2nd

LianBio’s (NASDAQ:LIAN – Get Rating) lock-up period will expire on Monday, May 2nd. LianBio had issued 20,312,500 shares in its public offering on November 1st. The total size of the offering was $325,000,000 based on an initial share price of $16.00. After the expiration of LianBio’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Separately, Zacks Investment Research downgraded shares of LianBio from a “hold” rating to a “sell” rating in a report on Tuesday, April 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $23.19.

Shares of NASDAQ:LIAN opened at $5.04 on Monday. LianBio has a one year low of $2.61 and a one year high of $16.37. The business’s 50 day simple moving average is $4.24.

LianBio (NASDAQ:LIAN – Get Rating) last announced its quarterly earnings results on Wednesday, March 30th. The company reported ($0.28) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.72) by $0.44. Research analysts expect that LianBio will post -1.32 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in LIAN. Perceptive Advisors LLC acquired a new position in LianBio during the fourth quarter worth $346,931,000. Tybourne Capital Management HK Ltd. acquired a new position in shares of LianBio in the fourth quarter valued at $20,415,000. Alliancebernstein L.P. acquired a new position in shares of LianBio in the fourth quarter valued at $19,741,000. Vida Ventures Advisors LLC acquired a new position in shares of LianBio in the fourth quarter valued at $14,058,000. Finally, Deerfield Management Company L.P. Series C acquired a new position in shares of LianBio in the fourth quarter valued at $10,982,000. 62.99% of the stock is currently owned by institutional investors and hedge funds.

About LianBio (Get Rating)

Lianbio, a biopharmaceutical company, engages in developing and commercializing medicines for cardiovascular, oncology, respiratory, opthalmology, and inflammatory diseases in China and other Asian countries. The company develops mavacamten for the treatment of obstructive and non-obstructive hypertrophic cardiomyopathy, and heart failure with preserved ejection fraction; TP-03 for the treatment of Demodex blepharitis; NBTXR3 for the treatment of head and neck squamous cell carcinoma, and solid tumor IO combinations; Infigratinib for the treatment of second-line and first-line cholangiocarcinoma, and gastric and other cancers; BBP-398 for solid tumors; Omilancor for ulcerative and Crohn's disease; NH-13 for ulcerative colitis; LYR-210 for chronic rhinosinusitis; and Sisunatovir for respiratory syncytical virus.

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