Forma, Repare shine in first-day performances as biotech IPOs on NASDAQ maintain momentum

Three of four life sciences IPOs priced above expectations ahead of Friday’s session, and two biotechs in the group -- Forma and Repare -- posted big gains in their first trading day, showing continued strength for new listings in the sector.

Demand for shares of Forma Therapeutics Holdings Inc. (NASDAQ:FMTX) was the highest. The biotech’s shares more than doubled in value at the outset, rising as high as $47.49 in the morning from their $20 offering price. The stock closed at $39, up 95%...