Instil Bio Says 1-for-20 Reverse Stock Split Of Its Outstanding Shares Will Be Effective As Of 5:00 P.M. Eastern Time On December 7, 2023
Portfolio Pulse from Benzinga Newsdesk
Instil Bio announced a 1-for-20 reverse stock split of its outstanding shares, effective 5:00 PM Eastern Time on December 7, 2023.

December 05, 2023 | 10:02 pm
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Instil Bio's reverse stock split is likely to temporarily increase the stock price due to a reduced number of shares outstanding, but it may also indicate underlying issues with the stock's market performance.
Reverse stock splits are often used by companies to lift share prices to meet exchange listing requirements or to improve perceptions of the stock. While this can lead to a higher share price in the short term due to a reduced number of shares available, it is often seen as a negative signal about the company's market performance or financial health. Investors may view this action with caution, as it could indicate that the company is struggling to maintain its share price organically.
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