Shares of Nkarta Inc. tripled out of the gate Friday, after the biotechnology company’s initial public offering priced above its expected range. The first trade of the stock was at $54.75, or 204.2% above the IPO price of $18, at 11:17 a.m. Eastern for about 159,000 shares. The company raised about $252 million in the IPO, which priced above the expected range of $16 to $17. The stock has pulled back since the open, and was last up 168% at $48.25. The company went public on a day that the Renaissance IPO ETF fell 1.0%, while the S&P 500 edged up 0.3%.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.
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