I don't think it's unreasonable for the stock to be a few percentage points under the secondary for a few days. And if you have the opportunity to purchase the stock at a price below the offer, that most likely will not last for long.
one thing i learned is that trying to guess floor or ceiling of volatile bio stock makes you look like fool every time you try, you got pick the right stock and stick to it for a year, sometimes longer
There is no floor on a biotech stock after a huge rise. The people who managed the offering likely sold some stock high and will try to protect the price a little, but they are not going to go crazy. Relax, expect a period of consolidation, invest, or trade accordingly.
I don't believe that. Why would somebody buy in an offering and then sell for a few pennies profit waiting for a better entry. That doesn't make any sense. The price action is caused by people not having participated in the offering.