Shares of Juno Therapeutics Inc JUNO began trading on December 19 with an IPO price of $24 per share. Following the IPO, the stock was volatile but remained below $40 per share in its first four trading sessions.
The stock on Friday broke out above the $40 level and closed up over 22 percent. The momentum carried over into Monday’s pre-market as shares recently traded at $51.19, up 5.17 percent.
Monday’s surge above $50 came amid the company’s 8-K filing, which stated that it acquired Opus Bio for $20 million in cash and issued to Opus Bio 1.6 million shares of common stock.
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