|Bid||18.90 x 900|
|Ask||19.12 x 800|
|Day's Range||18.25 - 19.47|
|52 Week Range||16.67 - 27.75|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Davidson Kempner Capital Management reported an 8% interest the Netherlands-based molecular testing firm Qiagen. Boxer Capital now owns 2,107,513 shares of newly public clinical-stage biopharmaceutical firm. Pandion Therapeutics.
Pandion Therapeutics Inc. started its public life with a bang, as biotechnology company's stock opened 50% above where the upsized initial public offering was priced. The stock's first trade was at $27 at 11:59 a.m. Eastern for 252,125 shares, compared with the $18 IPO price, which was above the expected range. With about 27.99 million shares outstanding after the IPO, the opening price values the company at about $755.9 million. Pandion went public at a good time for IPOs, as the Renaissance IPO ETF has run up 44.9% over the past three months, while the S&P 500 has gained 12.1%.
Pandion Therapeutics Inc. raised more than expected in its initial public offering, which was upsized to 7.5 million shares and priced at $18. The biotechnology company was previously planning to sell 7 million shares in the IPO, which was expected to price at $16 to $18 a share, to raise up to $126 million. With about 27.99 million shares outstanding after the IPO, the pricing values the company at $503.9 million. The stock is expected to begin trading Friday on the Nasdaq under the ticker symbol "PAND." Goldman Sachs, Morgan Stanley and SVB Leerink are acting as the joint bookrunning managers. The company is going public at a time that the Renaissance IPO ETF has rallied 44.6% over the past three months and the iShares Nasdaq Biotechnology ETF has gained 13.5%, while the S&P 500 has advanced 11.9%.