Fulgent raises $37.8M in IPO

Diagnostics company Fulgent Genetics Inc. (NASDAQ:FLGT) gained $0.18 to $9.18 in its first day of trading Thursday after raising $37.8 million through the sale of 4.2 million shares at $9 in an IPO underwritten by Credit Suisse, Piper Jaffray, Raymond James and BTIG. The offering valued the company at $153.4 million.

On Wednesday, Fulgent said it hoped to sell 4.2 million shares at $9-$11. In its initial filing earlier this month, it proposed to raise up to $50 million. ...