Moderna-backed Metagenomi sees stock fall 31% after $94M IPO (NASDAQ:MGX)

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Moderna-backed Metagenomi Technologies (NASDAQ:MGX) stock was down 31% Friday afternoon in the wake of a $94M initial public offering that priced at the low-end of its previously stated range.

Shares of the genetic drug developer opened at $10.25 after being priced at $15, reaching a high of $11.24 and a low of $9.80. The stock recently sold at $10.42, down 31%, at approximately 3:15 p.m. ET.

The post Moderna-backed Metagenomi sees stock fall 31% after $94M IPO (NASDAQ:MGX) first appeared on Investorempires.com.