Vor Biopharma’s stock more than doubles out of the gate

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Shares of Vor BioPharma Inc.
VOR,

blasted out of the gate Friday, as they open at more the double the upsized initial public offering’s price. The first trade for the Massachusetts-based cell therapy company’s stock was at $42.02 at 11:19 a.m. Eastern, which was 133.4% above the $18 IPO price. The company sold about 9.8 million shares in the IPO, up from a previously expected 8.23 million shares, to raise $176.9 million. The stock has pared some gains since the open, and was recently up 88.8%. At current prices, Vor is being valued at about $1.22 billion. The stock debuted on a day that the Renaissance IPO ETF
IPO,
+2.23%
rose 1.7% toward a record close and the S&P 500
SPX,
+0.39%
gained 0.4%, also toward a record.

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