Home / Market News / Nkarta’s stock triples out of the gate, then pulls back

Nkarta’s stock triples out of the gate, then pulls back

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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