Why Aura Biosciences Stock Hit A New 52-Week Low Today

Aura Biosciences Inc AURA shares are trading lower by 34.7% to $7.18 Tuesday afternoon after the company announced pricing of its public offering of common stock.

What Else?

Aura is conducting a public offering of 11 million common shares at $9.00 per share. This offering is expected to raise $99.0 million for the company, with a possibility of an additional 1.65 million shares being offered to underwriters at the same price.

See Also: What's Going On With Match Group Stock?

The offering is set to close around November 9. Leerink Partners, TD Cowen and Evercore ISI are serving as joint bookrunning managers, and JMP Securities acting as the lead manager.

According to data from Benzinga Pro, AURA has a 52-week high of $14.38 and a 52-week low of $5.99.

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