|Bid||13.60 x 1200|
|Ask||13.50 x 1000|
|Day's Range||12.82 - 14.93|
|52 Week Range||12.82 - 14.93|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Eargo is one of several companies go public Friday. Praxis Precision Medicines, Tarsus Pharmaceuticals, and Aligos Therapeutics are also on tap to commence trading.
(PRAX) which saw its shares rise 62%, led a flurry of biotech companies making their public market debuts Friday. Biotech has emerged as one of the busiest sectors of the IPO market. Including the four companies launching IPOs Friday, 12 biotechs have tapped the equity markets so far this month.
Shares of Aligos Therapeutics Inc. rallied out of the gate Friday, as they opened 16% above the initial public offering price. The stock's first trade on the Nasdaq was at $17.40 at 1:33 p.m. Eastern for 485,960 shares. The IPO was priced late Thursday at $15 a share, in the middle of the expected range of between $14 and $16 a share. The California-based biopharmaceutical company focused on viral and liver disease treatments raised $150 million in the IPO, and the pricing valued that company at about $540.8 million. The stock has pulled back since the opening, as it hit an intraday low of $13.63, or 9.1% below the IPO price, before bounding to be up 0.6% in afternoon trading. The company has gone public at a time of strong investor demand for IPOs, as the Renaissance IPO ETF has soared 32.6% over the past three months, while the iShares Nasdaq Biotechnology ETF has slipped 0.8% and the S&P 500 has gained 9.0%.