Charming Medical Ltd’s (NASDAQ:MCTA) Lock-Up Period To End Tomorrow

Charming Medical’s (NASDAQ:MCTA) lock-up period will end on Monday, April 20th. Charming Medical had issued 1,600,000 shares in its IPO on October 21st. The total size of the offering was $6,400,000 based on an initial share price of $4.00. After the expiration of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Analysts Set New Price Targets

Separately, Weiss Ratings began coverage on shares of Charming Medical in a research note on Monday, January 26th. They issued a “sell (e)” rating for the company. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Charming Medical Stock Up 6.8%

Shares of MCTA stock opened at $29.36 on Friday. The business’s 50 day moving average is $29.36. Charming Medical has a 12-month low of $4.30 and a 12-month high of $31.70.

Institutional Investors Weigh In On Charming Medical

A hedge fund recently bought a new stake in Charming Medical stock. Geode Capital Management LLC purchased a new position in shares of Charming Medical Ltd (NASDAQ:MCTA) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 10,752 shares of the company’s stock, valued at approximately $316,000. Geode Capital Management LLC owned about 0.06% of Charming Medical as of its most recent SEC filing.

About Charming Medical

We are a Hong Kong-based provider of Traditional Chinese Medicine (TCM)-inspired therapies and products. We offer a wide range of beauty, wellness, and postpartum services and products rooted and influenced by the principles and practices of TCM, such as the use of herbal ingredients, acupuncture techniques, Tuina massage, and dietary guidance. Operating under the Beauty Lab Group (“Beauty Lab”) brand, our Operating Subsidiaries in Hong Kong offer a wide range of TCM-inspired beauty, wellness, and postpartum therapies and products through our four wellness centers in Hong Kong.