DJ Vor Biopharma's Stock More Than Doubles Out Of The Gate -- MarketWatch
Shares of Vor BioPharma Inc. (VOR) blasted out of the gate Friday, as they open at more the double the upsized initial public offering's price (http://www.marketwatch.com/story/vor-biopharma-prices-upsized-ipo-at-the-top-of-the-expected-range-raises-177-million-2021-02-05). The first trade for the Massachusetts-based cell therapy company's stock was at $42.02 at 11:19 a.m. Eastern, which was 133.4% above the $18 IPO price. The company sold about 9.8 million shares in the IPO, up from a previously expected 8.23 million shares, to raise $176.9 million. The stock has pared some gains since the open, and was recently up 88.8%. At current prices, Vor is being valued at about $1.22 billion. The stock debuted on a day that the Renaissance IPO ETF (IPO) rose 1.7% toward a record close and the S&P 500 gained 0.4%, also toward a record.
(END) Dow Jones Newswires
February 05, 2021 12:18 ET (17:18 GMT)
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