Fusion Pharmaceuticals’ (NASDAQ:FUSN) quiet period is set to expire on Wednesday, August 5th. Fusion Pharmaceuticals had issued 12,500,000 shares in its initial public offering on June 26th. The total size of the offering was $212,500,000 based on an initial share price of $17.00. During the company’s quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. 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.
FUSN has been the topic of several recent research reports. Morgan Stanley initiated coverage on shares of Fusion Pharmaceuticals in a research note on Tuesday, July 21st. They issued an “overweight” rating and a $23.00 target price on the stock. Cowen initiated coverage on shares of Fusion Pharmaceuticals in a research note on Tuesday, July 21st. They issued an “outperform” rating on the stock. Jefferies Financial Group initiated coverage on shares of Fusion Pharmaceuticals in a research note on Tuesday, July 21st. They issued a “buy” rating and a $25.00 target price on the stock. Finally, Wedbush initiated coverage on shares of Fusion Pharmaceuticals in a research note on Tuesday, July 21st. They issued an “outperform” rating and a $25.00 target price on the stock.
Fusion Pharmaceuticals stock opened at $13.76 on Friday. Fusion Pharmaceuticals has a fifty-two week low of $12.19 and a fifty-two week high of $19.00.
In other news, major shareholder Johnson & Johnson acquired 725,000 shares of Fusion Pharmaceuticals stock in a transaction that occurred on Tuesday, June 30th. The shares were acquired at an average price of $17.00 per share, with a total value of $12,325,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.
A hedge fund recently bought a new stake in Fusion Pharmaceuticals stock. UBS Group AG bought a new position in shares of Fusion Pharmaceuticals Inc (NASDAQ:FUSN) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 5,484 shares of the company’s stock, valued at approximately $96,000.
About Fusion Pharmaceuticals
Fusion Pharmaceuticals Inc, a clinical-stage oncology company, focuses on developing radiopharmaceuticals as precision medicines. The company has developed Targeted Alpha Therapies platform together with its proprietary Fast-Clear linker technology to enable us to connect alpha particle emitting isotopes to antibodies and other targeting molecules in order to selectively deliver the alpha particle payloads to tumors.
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