Caribou gives back early gains after pricing $304M IPO

Continued enthusiasm for gene editing stocks helped drive demand for Caribou’s upsized, $304 million IPO, as the company’s shares rose by as much as 23% early in their first day of trading before settling back to a gain of $0.32 to $16.32 at Friday’s close. 

Caribou Biosciences Inc. (NASDAQ:CRBU) had already raised its goal for the offering — proposing first to sell 13.5 million shares, and then 17 million — before pricing 19 million shares late Thursday at $16, the top end of its $14-$16 range. The deal valued Caribou at $907.3 million, and Friday’s gains briefly lifted its market cap past $1 billion...