Shattuck Labs stock surges in its debut, opens 30% above its IPO price

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Shares of Shattuck Labs Inc. soared in their public debut, as they opened 30% above the initial public offering price. The stock’s first trade was at $22.10 at 11:10 a.m. Eastern for 559,586 shares. The IPO was priced at $17 a share, above the expected range of $14 to $16 a share. The Texas-based biotechnology company raised $202.0 million in the upsized IPO, and the pricing valued the company at $647.4 million. The stock has pulled back some since its open, to be trading up 12.4% in morning trading. Meanwhile, the Renaissance IPO ETF was rising 2.0% and the S&P 500 was tacking on 0.6%.
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