Starting from a market cap of around 500 million dollars, Axcella Health was planning on opening the initial trade that took place on May 9th, 2019, at the share price between 20$ and 22$.
Additionally, the company had a plan of raising approximately 76 million dollars within their IPO debut, issuing 3,571,428 common stocks.
Axcella opened the first trade at a lower end of share price estimates, sinking by around -30% at the very opening of the IPO trade.
Axcella was founded by Flagship Pioneering, operating with solutions related to treating muscles, blood and liver.
Axcella aimed at opening IPO sale between 20$ and 22$ per share, however, the starting price on Nasdaq for AXLA shares dipped around -30%, opening the initial sale at the value of 13.89$.
The share definitely opened below the initial expectations based on the per-IPO evaluation.
The highest price for AXLA went towards 14.10$ in the course of nearly two weeks since Axcella Health became a publicly traded company.
Maximum price based on the performance of Axcella shares since opening is set at the target of 15.99$, with minimum price of 12.60$, both in the period of the following 52 weeks.
It appears that although Axcella started off at a lower price than expected, AXLA share closed at 14.06$ trending up with one of the latest trades concluded with May 21st.
While it is presumed that the top price this biotech company would reach a maximum price of over 15$ in the period of the next 52 weeks, AXLA could be ranked as a buy given the fact that the share price didn’t tank since the opening.
The exception would be the fact that AXLA shares started way below the initial share price of 20$. This may be an opportunity for investors searching for biotech shares to buy AXLA at a lower price.