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Sept. 25, 2020, 12:44 p.m. EDT

Graybug Vision's stock open up 19%, then pares some gains

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By Tomi Kilgore

Graybug Vision Inc.'s stock /zigman2/quotes/207596700/composite GRAY +1.78% started its public life with a rally, as it opened 18.8% above its initial public offering price. The first trade was at $19.00 at 12:15 p.m. Eastern for 293,572 shares, above the upsized IPO price of $16 a share. At the IPO price, the California-based biopharmaceutical company raised $90 million and was valued at $306.5 million. The stock has pared some gains since it opened, to be trading 7.5% above its IPO price. The company went public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO +0.40% has rallied 63.0% year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.04% has edged up 1.1%.

/zigman2/quotes/207596700/composite
US : U.S.: Nasdaq
$ 16.60
+0.29 +1.78%
Volume: 2,400
Oct. 21, 2020 9:32a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$327.72 million
Rev. per Employee
N/A
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 55.68
+0.22 +0.40%
Volume: 100.00
Oct. 21, 2020 9:31a
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/zigman2/quotes/210599714/realtime
US : S&P US
3,444.52
+1.40 +0.04%
Volume: 81.82M
Oct. 21, 2020 9:34a
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