Gossamer Bio trading 3% above initial IPO price
Shares of Gossamer Bio, Inc. opened at $19 Friday on the Nasdaq , or 19% above its initial public offering price of $16, before falling back to $16.50, or 3% above the initial IPO price. The first trade crossed at 11:22am Eastern for 762,609 shares. The IPO priced on Thursday evening, with the company selling 17.25 million shares to raise $276 million. The iShares Nasdaq Biotechnology ETF has gained 10.7% in the year to date, while the S&P 500 is up 7.2%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.