NEXGEL, Inc.’s Lock-Up Period Set To Expire on June 20th (NASDAQ:NXGL)

NEXGEL’s (NASDAQ:NXGL – Get Rating) lock-up period will expire on Monday, June 20th. NEXGEL had issued 2,585,000 shares in its initial public offering on December 22nd. The total size of the offering was $14,217,500 based on an initial share price of $5.50. After the end of NEXGEL’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Separately, Maxim Group cut their price objective on NEXGEL to $5.00 in a research report on Thursday, May 26th.

NASDAQ NXGL opened at $1.52 on Monday. NEXGEL has a 1-year low of $1.38 and a 1-year high of $4.66. The firm has a 50-day moving average price of $1.63.

An institutional investor recently bought a new position in NEXGEL stock. Citadel Advisors LLC acquired a new stake in NEXGEL, Inc. (NASDAQ:NXGL – Get Rating) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 61,412 shares of the company’s stock, valued at approximately $160,000. Citadel Advisors LLC owned about 1.10% of NEXGEL at the end of the most recent quarter. 1.99% of the stock is owned by institutional investors.

NEXGEL Company Profile (Get Rating)

NEXGEL, Inc manufactures high water content, electron beam cross-linked, and aqueous polymer hydrogels and gels. Its products are used for wound care, medical diagnostics, transdermal drug delivery, and cosmetics. The company was formerly known as AquaMed Technologies, Inc and changed its name to NEXGEL, Inc in November 2019.

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